Ur QUESTIONS REMAINING Statement of Profit & Loss for Lambert PLC to 31 December 2020 Em Em Sales 280 Less cost of goods sold 140 Gross profit 140 Operating expenses 80 Profit before interest and tax 60 D 1 Less interest 20 Profit before taxation 40 6 Taxation 34 Profit after taxation 3 10 dividends 11 OF 13 QUESTIONS REMAINING Retained income 24 Statement of Financial Position for Lambert PLC as at 31 December 2020 Fixed assets 310 Current assets Inventory 47 I Debtors 26 Cash & Bank 18 E Total current assets 91 9 401 Total assets Current liabilities: Last 11 OF 13 QUESTIONS REMAINING Creditors 22 Taxation 9 Net assets 370 Capital & Reserves: 182 Loan 165 I D Which of the following is closest to the acid test ratio for Lambert plc A 1.9:1 B 1.38:1 0.79:1 1.22:1