15.

The following data are pulled from a balance sheet of a local small business, calculate

(i) working capital,

(ii) current ratio, and

(iii) acid test ratio.

Cash	$250,000
Accounts receivable	400,000
Marketable securities	100,000
Retailers inventories	450,000
Prepaid expenses	50,000
Accounts payable	600,000
Accrued expenses	200,000