(Answered) The following account balances were taken from the end of

Accounting

The following account balances were taken from the end of fiscal year financial statements of Birddog, Inc. for December 31, 2011:

Cash in Bank 10,000 Accounts Payable 18,000
Accounts Receivable 20,000 Federal Income Tax Payable 2,200
Merchandise Inventory 17,800 Dividends Payable (due 2-15-06) 4,400
Prepaid Insurance 2,200 Sales Taxes Payable 400
Long-Term Notes Payable (due 2-1-10) 150,000

For questions 35 through 37, write the correct amount or ratio on your answer sheet. Ratios must be rounded to the nearest tenth and expressed as in this example: 2 to 1.

What is the amount of working capital?

What is the quick ratio?

What is the current ratio?

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