Question One Mwewa Industries Ltd, is a company that produces flooring Iron Sheets in Ndola, Copperbelt Province. At the end of financial year 31" March 2016 a Finance Director prepared a balance sheet for the Annual General Meeting (AGM). The following is the balance sheet of Mwewa Industries Ltd From the following balance sheet of Mwewa Industries Ltd., as 31st March 2016 Liabilities Equity Share Capital 10,000 26,000 Assets Fixed assets (less depreciation K 10,000) Current Assets: 2.000 1,000 7% Preference Share Capital Reserves and Surplus 6% Mortgage Debentures Current Liabilities: 8,000 14,000 3,000 4,000 Cash Investments (10%) Sundry debtors Stock 6,000 Creditors Bills payable Outstanding expenses Tax Provision 1.200 2,000 200 2,600 40,000 40,000 Other information: 1. Net sales 2. Cost of goods sold 3. Net income before tax 4. Net income after tax K 60,000 K 51,600 K 4,000 K 2,000 Required From the given balance sheet, you are required to calculate the appropriate ratios: a. Proprietary ratio b. Current Ratio c. Liquid Ratio d. Fixed interest charges [5 Marks] [5 Marks] [5 Marks) [5 Marks) [Total 20 Marks