Brief Exercise 24-8 Answer each of the questions in the following unrelated situations (a) The current ratio of a company is 5:1 and its acid-test ratio is 1:1. If the inventories and prepaid items amount to $486,000, what is the amount of current liabilities? Current Liabilities (b) A company had an average inventory last year of $205,000 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? (Round answer to O decimal places, e.g. 125.) Average Inventory (e) A company has current assets of $84,000 (of which $41,000 is inventory and prepaid items) and current liabilities of $41,000. What is the current ratio? What is the acid-test ratio? tf the company borrows % 14,000 cash from a bank on a 120-da decimal places, e.g. 2.50 y loan, what will its current ratio be? What will the acid-test ratio be? (Round answers to 2 Current Ratio Acid Test Ratio New Current Ratio New Acid Test Ratio (d) A company has current assets of $624,000 and current liabilities of $260,000. The board of directors declares a cash dividend of $184,000. 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