Answer each of the questions in the following unrelated situations. (a) The current ratio of a company is 6:1 and its acid-test ratio is 1:1. If the inventories and prepaid items amount to $546,000, what is the amount of current liabilities? Current liabilities (b) A company had an average inventory last year of $180,000 and its inventory turnover was 5 . If sales volume and unit cost remain the same this year as last and inventory turnover is 8 this year, what will average inventory have to be during the current year? Average inventory $ (c) A company has current assets of $92,000 (of which $37,000 is inventory and prepaid items) and current liabilities of $37,000. What is the current ratio? What is the acid-test ratio? If the company borrows $14,000 cash from a bank on a 120 -day loan, what will its current ratio be? What will the acid-test ratio be? (Round answers to 2 decimal places, eg. 2.50.) Current ratio Acid-test ratio New current ratio New acid-test ratio :1 :1 :1 :1 (d) A company has current assets of $560,000 and current liabilities of $233,000. The board of directors declares a cash dividend of $169,000. What is the current ratio after the declaration but before payment? What is the current ratio after the payment of the dividend? (Round answers to 2 decimal places, e.g. 2.50.) Current ratio after the declaration but before payment :1 Current ratio after the payment of the dividend :1