Effect of Transactions on Current Position Analysis Data pertaining to the current position of Lucrey Industries Inc. follow Cash $447.500 Marloetable securities 190.000 Accounts and notes receivable (net) 310.000 Inventories 750.000 Prepaid expenses 44.000 Accounts payable 240,000 Notes payable (short-term) 235,000 Accrued expenses 325.000 Required: 1. Compute(s) the working capital (b) the current ratio, and (c) the quick ratio. Round ratios to one decimal place. a Worlong capital b. Current ratio c. Quick ratio 2. Compute the working capital, the current ratio, and the cock ratio after each of the flowing transactions and record the results in the appropriate columns. Consider each transaction separately and assume that only that transaction wifects the data given. Round ratios to one decimal place Transaction Working Capital Current Ratio Quick Ratio 3. Sold marketable securities at no gain or loss. $70,000 b. Paid accounts payable, $125.000 c. Purchased goods on account. $115.000 d. Paid notes payable, $110,000. e Declared a cash dividend, $125,000 f. Declared a common stock dividend on common stock. $45.000 9. Borrowed cash from bank on a long term note, 5215.000. h. Received cash on account. $140.000 Issued additional shares of stock for cash, $575,000 3. Paid cash for prepaid expenses, $9.000 HOONE Check My Work Previous Next >