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SHOW ALL WORK! 5. The following data are taken from the balance sheet at the end of the current year. Cash Accounts receivable Inventory Prepaid

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SHOW ALL WORK!

5. The following data are taken from the balance sheet at the end of the current year. Cash Accounts receivable Inventory Prepaid expenses $154,000 210,000 240,000 15,000 350,000 Temporary investments Property, plant, and 375,000 equipment Accounts payable Accrued liabilities Income tax payable Notes payable, short-term 245,000 4,000 10,000 85,000 Determine the (a) working capital, (b) current ratio, and (c) quick ratio. Round ratios to one decimal place

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