Core Company Had the Following Assets and Liabilities as of December

Essay

Core Company had the following assets and liabilities as of December 31:​​ $\begin{array}{|l|r|}\hline {\text { Assets }} & \\\hline \text { Cash } & \$ 58,000 \\\hline \text { Accounts receivable } & 25,000 \\\hline \text { Inventory }& 20,000 \\\hline \text { Equipment } & 50,000 \\\hline\\\hline {\text { Liabilities }}\\\hline \text { Current portion of long-term debt } & \$ 20,000 \\\hline \text { Accounts payable } & 12,000 \\\hline \text { Long-term debt } &25,000\\\hline\end{array}$ Calculate the current ratio, working capital, and quick ratio.​