The Following Amounts Were Reported on the December 31, 2019

Essay

The following amounts were reported on the December 31, 2019, balance sheet:
$$\begin{array} { l r } \text { Cash } & \$9,000 \\\text { Accounts receivable } & 33,000 \\\text { Common stock } & 50,000 \\\text { Wages payable } & 16,000 \\\text { Retained earnings } & 125,000 \\\text { Land } & 30,000 \\\text { Accounts payable } & 19,000 \\\text { Bonds payable } & 110,000 \\\text { Merchandise inventory } & 28,000 \\\text { Buildings and equipment, net of accumulated depreciation } & 220,000\end{array}$$
Required:
(a.)Calculate working capital at December 31, 2019.
(b.)Calculate the current ratio at December 31, 2019.
(c.)Calculate the acid-test ratio at December 31, 2019.