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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

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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 calend the bonds mature. At December 31, 2016, the three measures were computed as follows: 1. Current assets: Cash Temporary investments $102,000 51.000 Accounts and notes receivable (net) 117,000 Inventories Prepaid expenses 36,000 24,000 Intangible assets 115,200 Property, plant, and equipment Total current assets (net) 64,800 $510,000 Current liabilities Accounts and short-term notes payable $96,000 Accrued liabilities 204,000 Total current liabilities (300,000) Working capital $210.000 2. Current ratio 3. Quick ratio 1.7 1.3 $510,000+ $300,000 $124,800+ $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 Currant ratio Quick ratio x x x

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