Assume that a company's current ratio is $3\mathrm{.}0,$ working capital is $$310,000,$ and the acid$-$test ratio is $1\mathrm{.}2.$

Required:

a$.$ How much does the company have in current assets?

b$.$ If the only current assets shown on the balance sheet are Cash, Accounts Receivable, and Merchandise Inventory, how much does

the company have in Merchandise Inventory?

a$.$ Current assets

b$.$ Merchandise Inventory