The following amounts were reported on the December 31, 2019, balance sheet:

Cash......................................................................................................... $ 16,000
Accounts receivable.................................................................................. 44,000
Common stock ......................................................................................... 80,000
Wages payable ......................................................................................... 10,000
Retained earnings .................................................................................. 160,000
Land ........................................................................................................... 40,000
Accounts payable ..................................................................................... 30,000
Bonds payable......................................................................................... 240,000
Merchandise inventory ........................................................................... 60,000
Buildings and equipment, net of accumulated depreciation........... 360,000

Required:

a. Calculate working capital at December 31, 2019.

b. Calculate the current ratio at December 31, 2019.

c. Calculate the acid-test ratio at December 31, 2019.