Company's working capital accounts at the beginning of the year follow: Cash Marketable securities Accounts receivable, net Inventory Prepaid expenses Accounts payable Notes due within one year Accrued liabilities $ 81,000 $ 24,400 $ 376,400 $ 488,600 $ 15,700 $ 219,800 $ 122,000 $ 69,900 During the year, Denna Company completed the following transactions: Ex

Company's working capital accounts at the beginning of the year follow: Cash Marketable securities Accounts receivable, net Inventory Prepaid expenses Accounts payable Notes due within one year Accrued liabilities $ 81,000 $ 24,400 $ 376,400 $ 488,600 $ 15,700 $ 219,800 $ 122,000 $ 69,900 During the year, Denna Company completed the following transactions: Ex. Paid a cash dividend previously declared, $41,000. a. Issued additional shares of common stock for cash, $222,000. b. Sold inventory costing $78,800 for $111,000, on account. c. Wrote off uncollectible accounts in the amount of $14,400, reducing the accounts receivable balance accordingly. d. Declared a cash dividend, $41,000. e. Paid accounts payable, $117,600. f. Borrowed cash on a short-term note with the bank, $76,500. g. Sold inventory costing $18,300 for $12,200 cash. h. Purchased inventory on account, $58,250. i. Paid off all short-term notes due, $198,500. j. Purchased equipment for cash, $83,800. k. Sold marketable securities costing $14,400 for cash, $12,000. 1. Collected cash on accounts receivable, $92,100. Required: 1. Compute the following amounts and ratios as of the beginning of the year: a. Working capital. b. Current ratio. c. Acid-test ratio.