=+1. Current assets:

Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $170,000 Temporary investments . . . . . . . . . . . . . . . . 80,000 Accounts and notes receivable (net) . . . . . . 200,000 Inventories . . . . . . . . . . . . . . . . . . . . . . . . . 60,000 Prepaid expenses . . . . . . . . . . . . . . . . . . . . 40,000 Intangible assets . . . . . . . . . . . . . . . . . . . . . 208,000 Property, plant and equipment . . . . . . . . . . . 92,000 _________ Total current assets (net) . . . . . . . . . . . . . $850,000 Current liabilities:

Accounts and short-term notes payable . . . . $160,000 Accrued liabilities . . . . . . . . . . . . . . . . . . . . . 340,000 _________ Total current liabilities . . . . . . . . . . . . . . . 500,000 Working capital . . . . . . . . . . . . . . . . . . . . . . . . $350,000 2. Current Ratio . . . . . . . . . . . . . . . . . . . . . . . . . . 1.7 $850,000  $500,000 3. Quick Ratio . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.2 $192,000  $160,000

a. List the errors in the determination of the three measures of current position analysis.