obl Data pertaining to the current position of Tracey Company follow: 800,000 Cash Marketable securities Accounts receivable, net Inventories Prepaid expenses 550,000 850,000 700,000 300,0000000 Total current assets Accounts payable Notes payable (short-term) Accrued expenses (current liability) 1,200,000 700,000 100,000 2,000,000 Total current liabilities 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 below. Consider each transaction separately and assume that only that transaction affects the data given. Round to one decimal place. a. Sold marketable securities at no gain or loss, $500,000 b. Paid accounts payable, $287,500 c. Purchased inventory on account, $400,000 d. Paid short-term notes payable, $125,000 e. Declared a cash dividend, $325,000 f. Declared a common stock dividend on common stock, S150,000 (Hint: look at page 641 of your book) g. Borrowed cash from bank on a long-term note, $1,000,000 h. Received cash on an account receivable, $75,000 i. Issued additional shares of stock for cash, $2,000,000 j. Paid cash for prepaid expenses, $200,000 Supporting Data Transaction Working Capital Current Ratio Quick Ratio $2,000,000 $2,200,000 $3,200,000 1.1 1.6 As Shown $1,200,000 a. b. . d. e. g- h. As shown: Working Capital Current Assets -Current Liabilities $1,200,000 $3,200,000- $2,000,000 Current ratio Current Assets divided by Current Liabilities 1.6- $3,200,000/$2,000,000 Quick ratio - Quick Assets (Cash, Marketable Securities, Accounts Receivable) divided by Current Liabilities 1.1- $2,200,000/ $2,000,000