QUALITATIVE ANALYSIS:

1) The following amounts were reported on the December 31, 2019, balance sheet:

Cash ------------------------------------------------------------------- $ 9,000

Accounts receivable --------------------------------------------------- 33,000

Common stock -------------------------------------------------------- 50,000

Wages payable -------------------------------------------------------- 16,000

Retained earnings ----------------------------------------------------- 125,000

Land -------------------------------------------------------------------- 30,000

Accounts payable ------------------------------------------------------ 19,000

Bonds payable --------------------------------------------------------- 110,000

Merchandise inventory ------------------------------------------------ 28,000

Buildings and equipment, net of accumulated depreciation ------- 220,000

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.