As of December 31, 2012, Grove Corporation Had a Current

Multiple Choice

As of December 31, 2012, Grove Corporation had a current ratio of 1.29, quick ratio of 1.05, and working capital of $18,000. The company uses a perpetual inventory system and sells merchandise for more than it cost. On January 1, 2012 Grove sold inventory on account for $6,000 and recorded cost of goods sold of $4,100. Which of the following statement is incorrect?

A) Grove's current ratio will decrease.
B) Grove's quick ratio will increase.
C) Grove's working capital will decrease.
D) A and C are both incorrect statements