Problem Effect of transactions on liquidity measures Selected balance sheet 11.12 accounts for Tibbetts Company on September 30, 2019, are as follows: LO 1 Cash... $ 48,000 Marketable securities. 87,000 Accounts receivable, net. 129,000 Inventory... 135,000 Prepaid expenses. 21,000 Total current assets. $420,000 Accounts payable $147,000 Other accrued liabilities. 33,000 Short-term debt... 60,000 Total current liabilities. $240,000 ... Required: a. Calculate the working capital, current ratio, and acid-test ratio for Tibbetts Company as of September 30, 2019. b. Summarized here are the transactions/events that took place during the fiscal year ended September 30, 2020. Indicate the effect of each item on Tibbetts Company's working capital, current ratio, and acid-test ratio. Use + for increase, - for decrease, and (NE) for no effect. [Hint: It may be helpful to use the horizontal model or to record the journal entry(ies) for each item before considering the effects on liquidity measures.]