Table 1 shows incomplete Balance Sheet for Bobbaman Enterprise. Evaluate the financial health of the company in term of current ratio, quick ratio, and working capital. Explain the current condition of the company.

Table 1

Bobbaman Enterprise Balance Sheet data (RM1000)

Asset Cash 1000

Account receivable 800

Inventories 900

Bad debt provision 75

Plant & equipment 3800

Liabilities Account payable 2050

Notes payable 500

Accrued expenses 200

Long-term debt 3500