Crafter Company has the following assets and liabilities: Assets Cash $25,989 Accounts receivable 14,839 Inventory 29,625 Equipment 53,157 Liabilities Current portion of long-term debt 8,530 Accounts payable 2,403 Long-term debt 62,509 Determine the quick ratio (rounded to one decimal point). a. 3.7 b. 1.7 c. 1.1 d. 6.4its first year of operations, a company granted its employees vacation privileges and pension rights estimated at a cost of $24,672 and $12,369, respectively. The vacations are expected to be taken in the next year, and the pension rights are expected to be paid in the future 5-30 years. What is the total cost of vacation pay and pension rights to be recognized in the first year? a. $37,041 b. $61,779 c. $12,369 d. $24,672Zach Company owns 45% of the voting stock of Tomas Corporation and uses the equity method in recording this investment. Tomas Corporation reported a $10,800 net loss. Zach Company's entry would include a a. credit to cash for $4,860 b. debit to the investment account for $4,860 c. credit to a loss account for $4,860 d. credit to the investment account for $4,860