The following is a December 31, 2024, post-closing trial balance for Culver City Lighting, Incorporated. Account Title Cash Accounts receivable Inventory Prepaid insurance Equipment Accumulated depreciation Patent (net) Accounts payable Interest payable Notes payable (due in 10 years) Common stock Retained earnings Totals a. Calculate the current ratio. b. Calculate the acid-test ratio. c. Calculate the debt to equity ratio. Numerator Denominator Numerator Denominator Numerator Denominator Current Ratio Acid-Test Ratio Debt To Equity Ratio Debits $ 55,000 39,000 45,000 15,000 100,000 40,000 $ 294,000 Credits $ 34,000 12,000 2,000 100,000 70,000 76,000 $ 294,000

The following is a December 31, 2024, post-closing trial balance for Culver City Lighting, Incorporated. a. Calculate the current ratio. b. Calculate the acid-test ratio. c. Calculate the debt to equity ratio