Effect of transactions on liquidity measures Selected balance sheet accounts for Problem 11.12 Tibbetts Company on September 30, 2016, are as follows: LO 1 48.000 87.000 Marketable securities......................... Accounts receivable, net. 129.000 135.000 Inventory 21.000 Prepaid expenses Total current assets $420,000 Accounts payable $147,000 Other accrued liabilities. short-term debt.... S240.000 Total current liabilities Required: a. Calculate the working capital, current ratio, and acid-test ratio for Tibbetts Company as of September 30, 2016. b. Summarized here are the transactions/events that took place during the fiscal year ended September 30, 2017. Indicate the effect of each item on Tibbetts Company's working capital, current ratio, and acid-test ratio. Use for increase, for decrease, and (NE) for no effect. (Hint: It may be helpful to use the hori- zontal model or to record the journal entry(ies) for each item before considering the effects on liquidity measures.)