| Selected balance sheet accounts for Tibbetts Company on September 30, 2010, are as follows: |
| Cash | $ | 41,600 | |
| Marketable securities | 75,400 | ||
| Accounts receivable, net | 111,800 | ||
| Inventory | 117,000 | ||
| Prepaid expenses | 18,200 | ||
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| Total current assets | $ | 364,000 | |
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| Accounts payable | $ | 107,800 | |
| Other accrued liabilities | 24,200 | ||
| Short term debt | 44,000 | ||
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| Total current liabilities | $ | 176,000 | |
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| Requirement 1: |
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Calculate the working capital, current ratio, and acid test ratio for Tibbetts Company as of September 30, 2010. (Round “ratios” to 2 decimal places. Omit the “$” sign in your response.) |
| Working capital | $ |
| Current ratio | |
| Acid test ratio | |
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