Compute the working capital, the current ratio, and the quick ratio after each of the following transactions and record the results in the appropriate columns of the table provided. Consider each

transaction separately and assume that only that transaction affects the data given. Round ratios to one decimal place.

Data pertaining to the current position of Forte Company follow

Required:

Compute $($A$)$ the working capital. $($B$)$ the current ratio, and $($C$)$ the quick ratio. Round ratios to one decimal place.

Compute the working capital, the current ratio, and the quick ratio after each of the following transactions and record the results in the

appropriate columns of the table provided. Consider each transaction separately and assume that only that transaction affects the data

given. Round ratios to one decimal place.

A$.$ Sold marketable securities at no gain or loss, $$60,000.$

B$.$ Paid accounts payable, $$135,000.$

C$.$ Purchased goods on account, $$105,000.$

D$.$ Paid notes payable, $$100,000$

C$.$ Quick ratio:

G$.$ Borrowed cash from bank on a long$-$term note, $$200,000.$

H$.$ Received cash on account, $$135,000.$

Issued additional shares of stock for cash, $$610,000$

J$.$ Paid cash for prepaid expenses, $$14,000.*$

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