The following data are taken from the balance sheet at the end of the current year.
Cash $154,000
Accounts receivable 210,000
Inventory 240,000
Prepaid expenses 15,000
Marketable securities 350,000
Property, plant, and equipment 375,000
Accounts payable 245,000
Accrued liabilities 4,000
Income tax payable 10,000
Notes payable (short-term) 85,000
Determine the (a) working capital, (b) current ratio, and (c) quick ratio. Round ratios to one decimal place.
a. Working Capital
b. Current Ratio
c. Quick Ratio