Using the following amounts taken from the balance sheet and income statement of a business,compute the measures listed below.After each answer,write "L" if it is a measure of liquidity or "P" if it is a measure of profitability.Round to two decimal places.
a.Current ratio
b.Return on equity
c.Return on assets
d.Working capital
Definitions:
Office Equipment
Durable assets used in an office setting for daily operations, such as computers, printers, and furniture.
Cash Account
An account that records all transactions involving cash, including receipts and payments, reflecting the company's cash flow.
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