On January 1, 2018, the general ledger of ACME Fireworks includes the following account balances:

Accounts	Debit			Credit
Cash	$	25,100
Accounts Receivable		46,200
Allowance for Uncollectible Accounts				$	4,200
Inventory		20,000
Land		46,000
Equipment		15,000
Accumulated Depreciation					1,500
Accounts Payable					28,500
Notes Payable (6%, due April 1, 2019)					50,000
Common Stock					35,000
Retained Earnings					33,100
Totals	$	152,300		$	152,300

During January 2018, the following transactions occur: January 2. Sold gift cards totaling $8,000. The cards are redeemable for merchandise within one year of the purchase date. January 6. Purchase additional inventory on account, $147,000. January 15. Firework sales for the first half of the month total $135,000. All of these sales are on account. The cost of the units sold is $73,800. January 23. Receive $125,400 from customers on accounts receivable. January 25. Pay $90,000 to inventory suppliers on accounts payable. January 28. Write off accounts receivable as uncollectible, $4,800. January 30. Firework sales for the second half of the month total $143,000. Sales include $11,000 for cash and $132,000 on account. The cost of the units sold is $79,500. January 31. Pay cash for monthly salaries, $52,000.

a-1. Calculate the current ratio at the end of January.

Current Ratio
Choose Numerator		Choose Denominator	=	Current Ratio
Current assets		Current liabilities	=	Current Ratio
		$103,750	=	0.00

b-1. Calculate the acid-test ratio at the end of January.

Acid-test Ratio
Choose Numerator		Choose Denominator	=	Acid-test Ratio
Quick assets		Current liabilities	=	Acid-test Ratio
		$103,750	=	0.00

c-1. Assume the notes payable were due on April 1, 2018, rather than April 1, 2019. Calculate the revised current ratio at the end of January.

Current Ratio
Choose Numerator		Choose Denominator	=	Current Ratio
Current assets		Current liabilities	=	Current Ratio
		153,750	=	0.00	times