The following data were taken from the comparative balance sheet of Osborn Sisters Company for the years ended December 31, 20Y9 and December 31, 20Y8:

a. Determine for each year
(1) The working capital,
(2) The current ratio, and
(3) The quick ratio.
b. What conclusions can be drawn from these data?

Dec. 31, 20Y9 Dec. 31, 20Y8 Cash Temporary investments Accounts and notes receivable (net) 150,000 250,000 500,000 850,000 50,000 1,800,000 $ 700,000 50,000 S 750,000 $ 100,000 150,000 400,000 610,000 40,000 $1,300,000 S460,000 40,000 500,000 Prepaid expenses Total current assets Accounts payable Accrued liabilities Total current liabilities