Problem - Given
Accounts payable $ 30,000
Accounts receivable 65,000
Accrued liabilities 7,000
Cash 20,000
Intangible assets 40,000
Inventory 72,000
Long-term investments 100,000
Long-term liabilities 75,000
Marketable securities 36,000
Notes payable (short-term) 20,000
Property, plant, and equipment 625,000
Prepaid expenses 2,000
Required -
1. Based on the above data, what is the amount of working capital?
a. $238,000
b. $138,000
c. $178,000
d. $64,000
2. Based on the above data, what is the quick ratio, rounded to one decimal point?
a. 2.4
b. 3.4
c. 2.1
d. 1.5