S437,500 185,000 325,000 Data pertaining to the current position of Lucroy Industries Inc. are as follows: Cash Marketable securities Accounts and notes receivable Inventories Prepaid expenses Accounts payable Notes payable (short-term) Accrued expenses 700,000 48,000 180,000 240,000 310,000 Calculate the following ratios taking into account each of the following situations by preparing the JE for each situation. You should show how the JE affects each equation when solving for the ratios. Working Capital Current Ratio Quick Ratio Journal Entries & Associated Change to Accounting Equation Formulas: Original Ratios before changes: a. Sold marketable securities at no gain or loss, $75,000. Cash 75,000 $965,500 2.32 1.30 Marketable securities 75,000 b. Paid accounts payable, $140,000. A/P 140,000 $180,000 Cash 140.000 c. Purchased goods on account, $120,000. CA &QA CA&QA CL CL CA & QA CL CL CA & QA CL CL CA&QA A/P 120,000 $180,000 Cash 120,000 d. Paid notes payable, $100,000. Notes Payable 100,000 S240,000 Cash 100,000 e. Declared a cash dividend, $130,000. Dividend 130,000 SHE Dividend Payable 130,000 f. Borrowed cash from bank on a long-term note, $215,000. Cash 215,000 CL CA & QA LL S437,500 LT Note Payable 215,000 Cash 100,000 e. Declared a cash dividend, $130,000. Dividend 130,000 Dividend Payable 130,000 f. Borrowed cash from bank on a long-term note, $215,000. Cash 215,000 $437,500 LT Note Payable 215,000 g. Received cash on account, $145,000. Cash 145,000 CA & QA SHE CL CA & QA LL CA & QA CA & QA SHE CA & QA CA CA & QA $437,500 A/R 145,000 h. Issued additional shares of stock for cash, $550,000. C/S 550,000 Cash 550,000 i. Paid cash for prepaid expenses, $11,000. Prepaid Expense 11,000 $48,000 Cash 11,000