The branch manager of LiveDreams Bank, has been approached by Snoopy Pet Shop who has requested an increase in their Mortgage Loan. Snoopy Pet Shop has provided an up to date list of the business Assets and Liabilities. Considering this request, the bank manager is investigating the liquidity of the business, he asks you to check the list and determine the total for the Current Assets and the total for the Current Liabilities to be used to calculate the Current Ratio. Snoopy Pet Shop: List of Assets and Liabilities 30/06/2017 Cash at Bank $10,000.00 Accounts Receivable $20,000.00 Allowance for Doubtful Debts ($2,000.00) Inventory $15,000.00 Property Plant and Equipment $150,000.00 Accumulated Depreciation; Property Plant and Equipment ($40,000.00) Accounts Payable $16,000.00 Mortgage Loan $80,000.00

CURRENT ASSETS (Answer )

CURRENT LIABILITIES (Answer) A.S