Working Capital and Short-Term Firm Liquidity Ratios Favor Company has a current ratio of 2.08 (2.08:1) on December 31. On that date its current assets are as follows:

Cash and cash equivalents	$28,000
Short-term investments	87,000
Accounts receivable (net)	125,000
Inventory	258,500
Prepaid expenses	9,980
Current assets	$508,480

Favor Company's current liabilities at the beginning of the year were $192,000 and during the year its operating activities provided a cash flow of $38,830. a. What are the firm's current liabilities at December 31? Round answer to the nearest whole number. Answer

b. What is the firm's working capital on December 31? Round answer to the nearest whole number. Answer

c. What is the quick ratio on December 31?

Round to 2 decimal points. Answer

d. What is the firm's operating-cash-flow-to-current-liabilities ratio? Round answer to 2 decimal places. Answer