Selected balance sheet accounts for Tlbbetts Company on September 30, 2019, are as follows: Requlred: a. Calculate the working capital, current ratio, and acid-test ratlo 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 . Prepare journal entrles for the below transactions and Indicate the effect of each Item on Tibbetts Company's working capital, current ratio, and acld-test ratio. Use + for Increase, - for decrease, and (NE) for no effect. 1. Credit sales for the year amounted to $264,000. The cost of goods sold was $171,600. 2. Collected accounts recelvable, $277,200. 3. Purchased Inventory on account, $184,800. 4. Issued 550 shares of common stock for $20 per share. 5. Wrote off $7,700 of uncollectible accounts using the allowance for bad debts. 6. Declared and paid a cash dividend, $22,000. 7. Sold marketable securitles costing $28,600 for $34,100 in cash. 8. Recorded Insurance expense for the year, $13,200. The premium for the policy was paid In June 2019 . 9. Borrowed cash on a short-term bank loan, $11,000. 10. Repald principal of $44,000 and Interest of $3,300 on a long-term bank loan. Complete this question by entering your answers in the tabs below. Calculate the working capital, current ratio, and acid-test ratio for Tibbetts Company as of September 30, 2019. (Round "Ratio" answers to 2 decimal places.) Journal entry worksheet Note: Enter debits before credits. 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