The following financial information was taken from a firm's accounting records on December 31, 2013. Use this information to determine the items below. $\begin{array}{ll}
\text { Cash } & \$ 40,000 \
\text { Accounts Receivable (Net) } & 160,000 \
\text { Merchandise Inventory } & 310,000 \
\text { Property, Plant, and Equipment (Net) } & 400,000 \
\text { Accounts Payable } & 120,000 \
\text { Bonds Payable, 2025 } & 100,000
\end{array}$ (1) Working capital.
(2) Current ratio.
(3) Acid-test ratio

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The Answer of The following financial information was taken from a firm's accounting records on December 31, 2013. Use this information to determine the items below. $\begin{array}{ll}
\text { Cash } & \$ 40,000 \
\text { Accounts Receivable (Net) } & 160,000 \
\text { Merchandise Inventory } & 310,000 \
\text { Property, Plant, and Equipment (Net) } & 400,000 \
\text { Accounts Payable } & 120,000 \
\text { Bonds Payable, 2025 } & 100,000
\end{array}$ (1) Working capital.
(2) Current ratio.
(3) Acid-test ratio

The Following Financial Information Was Taken from a Firm's Accounting