EX 14-8 Current position analysis working capital of $100,000, current calendar year until the bonds mature. A puted as follows: Obj. 3 e bond indenture for the 10-year 9% debenture bonds issued January 2, 20Y5, required a current ratio of 1.5, and a quick ratio of 1.0 at the end of each t December 31, 20Y6, the three measures were com- 1. Current assets: Cash. . Temporary investments . .. Accounts and notes receivable (net)..... . $102,000 48,000 120,000 36,000 24,000 124,800 55,200 Intangible assets . .. Property, plant, and equipment. Total current assets (net) . $510,000 Current liabilities: $96,000 204,000 Accounts and short-term notes payable Total current liabilities . Working capital . . 300,000 $210,000 2. Current ratio.. 3. Quick ratio. 1.7 $510,000$300,000 1.2 $115,200 $ 96,000 A. List the errors in the determination of the three measures of current position analysis. B. Is the company satisfying the terms of the bond indenture