The following amounts were reported by Leau Ltd$.$ in its most recent statement of financial position: Cash $$32,720$ $$623,000376,280$ Accounts receivable Inventory Prepaid insurance Accounts payable Wages payable Income tax payable Unearned revenue $711,66030,00069,00096,00016,360$ Property, plant, and equipment $($net$)1\mathrm{.}706\mathrm{.}900$ Bank loan payable $($due in $5$ years$)48,000$ Calculate the current ratio and quick ratio for Leau Ltd$.($Round answers to $2$ decimal places, e$.$g$.15\mathrm{.}25.)$ Current ratio Quick ratio eTextbook and Media Leau Ltd$\text{'}$s bank loan includes covenants related to minimum current and quick ratios that the company must maintain. The covenants state that the company must maintain a current ratio of $1\mathrm{.}35$ or more, and a quick ratio of $0\mathrm{.}58$ or more. How would a $$81,800$ loan, which would be repayable in three years, affect your analysis? $($Round answer to $2$ decimal places, e$.$g$.15\mathrm{.}25.)$ Quick ratio The company meet its target The starting point for the bank portion of the bank reconciliation is labelled O Account Balance O Bank Balance. Transaction Balance. O Cash Balance All of the following are features of the percentage of credit sales method except O emphasizes earnings statement relationships. O focuses on asset valuation. O determines bad debts expense directly. O focuses on income measurement.