Question: li wei wants you prepare his balance sheet to calculate...
Li Wei wants you prepare his balance sheet to calculate his solvency ratio, and liquidity ratio He has provided you with the following financial information: Apartment $400,000; Interest Only Mortgage Loan $325,000; Car $25,000; Annual Salary $60,000; Furniture and personal property $16,000; personal loan $12,000 (half due this year and half next year); money in savings account $2,600; Money in 12 month term deposit account $5,000.
a) What is Li Wei’s Solvency Ratio (rounded to the nearest %)?
b) What is Li Wei’s Liquidity Ratio (rounded to the nearest %)?
c) What are Li Wei’s Current Assets and current Liabilities?
d) What are Li Wei’s Non-current assets and Total Liabilities?