Ratio Electric Vehicle Battery (round your answer to 2 decimal places)

	Formula	2022	Industry Average
Quick (Acid-test) ratio			0.80 time
Net Profit ratio			33.50%

	$	$
Sales		8,000,000
Less : COGS		1,200,000
Gross Profit		6,800,000
Less : Operating Expenses
Sales Salaries	450,000
Office Salaries	400,000
Advertising Expense	350,000
Office Supplies Expense	328,000
Rent Expense	840,000
Insurance Expense	230,000
Utility Expense	290,000
Depreciation Expense	282,000	3,170,000
Operating Profit / EBIT		3,630,000
Interest Expense		280,000
Profit before Tax		3,350,000
Tax Expense		350,000
Net Profit		3,000,000

Batteries R Us Ltd (Electric Vehicle Battery) Balance Sheet as of 30 June 2022
Current Assets	$	$
Accounts receivables	6,600,000
Bank	950,000
GST paid	450,000
Inventory	2,250,000
Non-Current Assets
Equipment	13,500,000
Fixtures	3,500,000
Land and buildings	28,000,000
Total Assets		55250000
Current Liabilities
Account payables	6,700,000
GST Collected	1,600,000
Non-Current Liabilities
Mortgage	27,000,000
Total Liabilities		35300000
Net Assets		19950000
Equity
capital	15,000,000
retained earnings	4950000
Total Equity		19950000