eBook Calculator Print Item Effect of Transactions on Current Position Analysis Data pertaining to the current position of Lucroy Industries Inc. follow Cash Marketable securities Accounts and notes receivable (net) Inventories Prepaid expenses Accounts payable Notes payable (short-term) Accrued expenses Required: $427,500 170,000 315,000 700,000 42,000 180,000 255,000 290,000 1. Compute (a) the working capital, (b) the current ratio, and (c) the quick ratio. Round ratios to one decimal place. a. Working capital b. Current ratio c. Quick ratio 2. Compute the working capital, the current ratio, and the quick ratio after each of the following transactions and record the results in the appropriate columns. Consider each transaction separately and assume that only that transaction affects the data given. Round ratios to one decimal place Check My Work PreviousNext 2. Compute the working capital, the current ratio, and the quick ratio after each of the following transactions and record the results in the appropriate columns. Consider each transaction separately and assume that only that transaction affects the data given. Round ratios to one dec place. Transaction Working Capital Current Ratio Quick Ratio a. Sold marketable securities at no gain or loss,0,000. b. Paid accounts payable, $125,000. c. Purchased goods on account, $120,000. d. Paid notes payable, $115,000. e. Declared a cash dividend, $160,000. f. Declared a common stock dividend on common stock, $45,000. g. Borrowed cash from bank on a long-term note, $200,000. h. Received cash on account, $105,000. I. Issued additional shares of stock for cash, $580,000. j. Paid cash for prepaid expenses, $11,000. Check My Work Previous Next