The following amounts were reported on the December 31, 2019, balance sheet: Cash Accounts receivable Common stock Wages payable Retained earnings Land Accounts payable Bonds payable Merchandise inventory Buildings and equipment, net of accumulated depreciation a. Working capital b. Current ratio Acid-test ratio 46,000 126,500 230,000 28,750 460,000 115,000 14,250 675,000 85,500 C. 1,035,000 Required: a. Calculate working capital at December 31, 2019. b. Calculate the current ratio at December 31, 2019. (Round your answer to 1 decimal place.) c. Calculate the acid-test ratio at December 31, 2019. (Round your answer to 1 decimal place.) 4

The following amounts were reported on the December 31, 2019, balance sheet: Required: a. Calculate working capital at December 31, 2019. b. Calculate the current ratio at December 31, 2019. (Round your answer to 1 decimal place.) c. Calculate the acid-test ratio at December 31, 2019. (Round your answer to 1 decimal place.)