Denna Companys working capital accounts at the beginning of the year follow:

Cash	$	68,000
Marketable securities	$	26,200
Accounts receivable, net	$	345,200
Inventory	$	454,800
Prepaid expenses	$	7,600
Accounts payable	$	196,400
Notes due within one year	$	96,000
Accrued liabilities	$	58,200

During the year, Denna Company completed the following transactions:

Paid a cash dividend previously declared, $28,000.

Issued additional shares of common stock for cash, $196,000.

Sold inventory costing $68,400 for $98,000, on account.

Wrote off uncollectible accounts in the amount of $9,200, reducing the accounts receivable balance accordingly.

Declared a cash dividend, $28,000.

Paid accounts payable, $96,800.

Borrowed cash on a short-term note with the bank, $57,000.

Sold inventory costing $20,100 for $13,400 cash.

Purchased inventory on account, $48,500.

Paid off all short-term notes due, $153,000.

Purchased equipment for cash, $73,400.

Sold marketable securities costing $16,200 for cash, $13,500.

Collected cash on accounts receivable, $77,800.

Required:

1. Compute the following amounts and ratios as of the beginning of the year:

a. Working capital.

b. Current ratio.

c. Acid-test ratio.