Current Position Analysis The bond indenture for the 10-year, 9% debenture bonds issued January 2, 2015, required working capital of $100,000, a current ratio of 1.5, and a quick ratio of 1.0 at the end of each calendar year until the bonds mature. At December 31, 2016, the three measures were computed as follows: 1. Current assets: Cash Temporary investments $99,000 51,000 Accounts and notes receivable (net) 120,000 Inventories 36,000 Prepaid expenses 24,000 Intangible assets 85,200 Property, plant, and equipment 64,800 $480,000 Total current assets (net) Current liabilities: Accounts and short-term notes payable $96,000 Accrued liabilities 204,000 Total current liabilities (300,000) Working capital $180,000 2. Current ratio 1.6 3. Quick ratio 1.3 $480,000 + $124,800+ $300,000 $96,000 a. Find the errors in the determination of the three measures of current position analysis. Then provide the correct amounts below. If required, round the ratios to one decimal place. Working capital Current ratio Quick ratio b. Is the company satisfying the terms of the bond indenture? No