220 Problem 1. 20 points The following data are taken from the balance sheet at the end of the current year. 1 identity () current assets, (b) quick assets, (c) current liabilities, Cash 300 Note payable short term --- Prepaid Expenses 120 Accounts payable Accumulated Depreciation 200 Inventory 450 Accounts Receivable 400 Income tax payable - 130 Retained Earnings 800 Mortgage note payable (long term) 2,000 Marketable Securities 350 Wages payable - 170 Accrued liabilities 110 Common Stock .... ........ 3,000 Dividends payable 180 Paid in Capital in excess of Par. 1,100 Equipment 1,000 Treasury Stock 250 Compute the following Current Assets Account Amount Quick Assets Account Amount Current Liabilities Account Amount Total Total Total 2. Compute the working capital, current ratio, and the quick ratio based on the information above and record the results in the appropriate columns. Round to the nearest one decimal point. 3. Consider each transaction separately, and assume that only that transaction affects the data given above a. Declared a stock dividend $100 b. Paid Mortgage note payable $150 c. Sold treasury stock for cash 120 d. Received cash from customers on account, 200 Record the answer in the appropriate columns Current assets quick assets current liabilities working capital current ratio quick ratio 3a._ 36. 3c. 3d