Selected balance sheet accounts for Tibbetts Company on September 30, 2022, are as follows: Required: a. Calculate the working capital, current ratio, and acid-test ratio for Tibbetts Company as of September 30,2022. b. Summarized here are the transactions/events that took place during the fiscal year ended September 30,2023 . Prepare journal entries for the below transactions and 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. 1. Credit sales for the year amounted to $336,000. The cost of goods sold was $218,400. 2. Collected accounts receivable, $352,800. 3. Purchased inventory on account, $235,200. 4. Issued 700 shares of common stock for $25 per share. 5. Wrote off $9,800 of uncollectible accounts using the allowance for bad debts. 6. Declared and paid a cash dividend, $28,000. 7. Sold marketable securities costing $36,400 for $43,400 in cash. 8. Recorded insurance expense for the year, $16,800. The premium for the policy was paid in June 2022. 9. Borrowed cash on a short-term bank loan, $14,000. 10. Repaid principal of $56,000 and interest of $4,200 on a long-term bank loan. \begin{tabular}{|l|l|} \hline Working capital & \\ \hline Current ratio & \\ \hline Acid-test ratio & \\ \hline \end{tabular}