Question: 16) Given: The financial data below for Tech Engineering in 2016. Category Dollar Amount Cash $800,000 Accounts receivable 1,000,000 Inventories 600,000 Intangibles 100,000 650,000

16) Given: The financial data below for Tech Engineering in 2016. Category

16) Given: The financial data below for Tech Engineering in 2016. Category Dollar Amount Cash $800,000 Accounts receivable 1,000,000 Inventories 600,000 Intangibles 100,000 650,000 Accounts payable Accrued Expenses 180,000 a) Determine the working capital for the company. b) Compute the current ratio from the financial data provided. c) What is the acid-test ratio for the company in 2016?

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