Calculate liquidity measures The following amounts were reported on the Decem- ber 31, 2016, balance sheet: Mini-Exercise 11.1 Cash $16,000 Accounts receivable 44,000 Common stock 80,000 Wages payable 10,000 Retained earnings 160,000 Land 40,000 Accounts payable 30,000 240,000 Bonds payable. 60,000 Merchandise inventory 360,000 Buildings and equipment, net of accumulated depreciation... Required: Calculate working capital at December 31, 2016. b. Calculate the current ratio at December 31, 2016. Calculate the acid-test ratio at December 31, 2016