Mini-Exercise 11-1 (Static) Calculate liquidity measures The following amounts were reported on the December 31, 2019, balance sheet: Cash Accounts receivable Common stock Wages payable $ 16,000 44,000 80,000 10,000 Retained earnings 160,000 Land 40,000 Accounts payable 30,000 Bonds payable 240,000 Merchandise inventory 60,000 Buildings and equipment, net of accumulated depreciation 360,000 Required: a. Calculate working capital at December 31, 2019. b. Calculate the current ratio at December 31, 2019. c. Calculate the acid-test ratio at December 31, 2019. (Round your answer to 1 decimal place.) a. Working capital b. Current ratio C. Acid-test ratio