Based on the comparative income statement and balance sheet of Cowan Kitchen Counters, Inc., that follow compute the following liquidity measures for 20-2 (round all calculations to two decimal places):

(a) Quick or acid-test ratio

(b) Current ratio

(c) Workingcapital

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Cowan Kitchen Counters, Inc. Comparative Income Statement For Years Ended December31, 20-2 and 20-1 20-2 $2584000 $2 163000 Net Sales Call on account) Cost of goods sold Gross proft Operating eaperses Othar experse (Interest) LIncome tax expense 868,200 1,616,800 715,800 $ %,200 315,200 221800 2420024200 17680 105300 199,600193,900 Net Income Cowan Kitchen Counters, Inc. Comparative Balance Sheet December 31, 20-2 and 20-1 0-2 20-1 Cash Government notes Accounts recelvable (net Merchandise tInventory Supples and prepayments 255400 S 248200 20000 250000 908,500 797 500 13600 47,500 108,200 983,600 143,200 108,200 330,000 17,700 Bulding (net Office equpment (netd 15,000 Total assets 2991,600 $2,765,600 urrent lablites (acounts payable) Bonds payable 0000 5 532000 220,000 Total lablites 23,000 T72000 Common stodk ($ 10pat,180,000 shares) Ret alned eanings 1,800,000 $1,800000 193,600 52068,600 $1,993,600 2991,600 $27650o 268,600 Total stodholdas' equity Total labilites and stockholders equlty