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

Cash: $ 16,000

Accounts receivable: 44,000

Common stock: 80,000

Wages payable: 10,000

Retained earnings: 160,000

Land: 40,000

Accounts payable: 30,000

Bonds payable: 240,000

Merchandise inventory: 60,000

Buildings and equipment, net of accumulated depreciation: 360,000

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.