The following is the Classified Balance Sheet of Foxtrot Concepts:
		Foxtrot Concepts
		Balance Sheet
		31-Dec-21
Assets
Current assets
	Cash				$ 8,000
	Accounts receivable				16,000
	Inventory				6,000
	Prepaid insurance				2,000
		Total current assets			32,000
Property, plant, and equipment
	Computer equipment			$ 210,000
	Less: Accumulated depreciation			25,000
					185,000
		Total assets			$ 217,000
Liabilities and Owner's Equity
Current liabilities
	Accounts payable				$ 20,000
	Salaries payable				3,000
		Total current liabilities			23,000
Non-current liabilities
	Note payable				71,000
		Total liabilities			94,000
Owner's equity
	J. Yan, Capital				123,000
		Total liabilities and owner's equity			$ 217,000
Instructions
Using the information above, calculate the following:
a. Current ratio
b. Quick ratio
c. Working capital