7. Compute the following: A. Current assets Noncurrent assets P1 500 000 P3 750 000 P2 000 000 Total liabilities How much is the owner's equity? B. If a firm's total liabilities and owner's equity is P5 000 000, and its current assets is P1 750 000, how much is its fixed assets? C. An entrepreneur estimates that the total assets he will have to acquire to start operating amounts to P10 000 000. He has a credit line with the local bank that will finance 43% of his requirements. This is going to be a long-term loan. He has P5 500 000, which he will put in as his capital. How much will be his current liabilities?

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