Part 3A (29 points) On December 31, 2019, Cuccia Chocolates, Inc. reported the following adjusted trial balance: Account Title Debits Credits Cash 72,000 Investments (See 1 below) 80,000 Accounts receivable 60,000 Inventory 88,000 Prepaid expenses (See 2 below) 42,000 Equipment 290,000 Allowance for uncollectible accounts 6,000 Accumulated depreciation 50,000 Accounts payable and accrued liabilities 30,000 Notes payable (See 3 below) 400,000 Common stock 100,000 Retained earnings 34,000 Sales revenue 791,000 Interest revenue 3,000 Cost of goods sold 650,000 General and administrative expenses 71,000 Loss on sale of investments 9,000 Product recall costs 48,000 Income tax expense 4,000 Totals $1,414,000 $1,414,000 Additional information: 1. Investments of $80,000 includes: $80,000, 90-day Treasury bill. 2. Prepaid expenses (an asset) of $42,000 includes: $16,000 paid for rent for 2 years ($8,000 each year in 2020 and 2021). 26,000 paid for costs to be used in 2020. 3. Notes payable of $400,000 includes: $ 35,000 note due in 3 months. 270,000 note due in 3 annual installments of $90,000 each, beginning in 2020. 95,000 note due in 5 years. Requirement 1: Determine the amount of Current Assets and Current Liabilities to be reported on the 2019 balance sheet. Show any work necessary to support your answers. SHOW ONLY THE AMOUNTS INCLUDED (e.g., 60,000 + 700,000 - 20,000 = 740,000); DO NOT PREPARE THE ACTUAL SECTIONS OF THE BALANCE SHEET. Current Assets Current Liabilities = Requirement 2: Determine the acid-test ratio (round to 2 decimal places). Show computations to support your answer. Requirement 3: Determine the amount of Operating Income to be reported on the 2019 income statement. SHOW ONLY THE AMOUNTS INCLUDED (e.g., 60,000 + 700,000 - 20,000 = 740,000); DO NOT PREPARE AN INCOME STATEMENT