The Balance Sheet of Punjab Auto Limited as on 31-12-2002 was as follows: Particular Rs. Particular Equity Share Capital Capital Reserve 8% Loan on Mortgage Creditors Bank overdraft Taxation: 40,000 Plant and Machinery 8,000 Land and Buildings 32,000 Furniture & Fixtures Stock 16,000 4,000 Debtors Current Future Profit and Loss A/c Investments (Short-term) 4,000 Cash in hand 4,000 12,000 1,20,000 From the above, compute (a) the Current Ratio, (b) Quick Ratio Rs. 24,000 40,000 16,000 12,000 12,000 4,000 12,000 1,20,000