The following data were taken from the balance sheet of Mossberg Company:

a. Determine for each year
(1) The working capital,
(2) The current ratio,
(3) The quick ratio. Round ratios to one decimal place.
b. What conclusions can be drawn from these data as to the company’s ability to meet its currently maturingdebts?

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Dec. 31, 2014 Dec. 31, 2013 S 700,000 800,000 920,000 600,000 500,000 $ 3,520,000 S 800,000 300,000 1,100,000 600,000 620,000 780,000 500,000 500,000 5 3,000,000 S 750,000 250,000 $1,000,000 Marketable securities Accounts and notes receivable (net) Inventories Prepaid expenses Total current assets Accounts and notes payable (short-term) Accrued liabilities Total current liabilities