Current Position Analysis The bond indenture for the 10-year, 8% debenture bonds dated January 2, 208, required working capital of $1,461,400, a current ratio of 4.1, and a quick ratio of 2.7 at the end of each calendar year until the bonds mature. At December 31, 2019, the three measures were computed as follows: 1. Current assets: Cash $186,000 Temporary Investments 232,500 372,000 Accounts receivable (net) Inventories 294,500 77,500 46,500 Prepaid expenses Intangible assets Property, plant, and equipment Total current assets (net) 837,000 $2,046,000 Current liabilities: Accounts and short-term notes payable $224,000 256,000 Accrued liabilities (480,000) Total current liabilities $1,566.000 Working capital 4.3 $2,046,000 $180,000 2. Current ratio 4.6 3. Quick ratio $1,023,000+ $224,000 Previous Next All work saved Email Instructor Submit Test for Grading Accounts receivable (net) 372,000 294,500 Inventories Prepaid expenses 77,500 46,500 Intangible assets 837,000 $2,046,000 Property, plant, and equipment Total current assets (net) Current babilities: Accounts and short-term notes payable Accrued liabilities $224,000 256,000 Total current liabilities Working capital (480,000) $1,566,000 $2,046,000 $480,000 2. Current ratio 3. Quick ratio 4.6 $1,023,000+ $224,000 a. There are errors in the calculation of the three measures of current position analysis. Determine the correct amounts. Round ratios to two decimal places Working capital Current ratio ADO Quick ratio to. Based on the data, all of the following are true, regarding the band indenture, except: The company is in compliance with the requirements of the bond Indenture. Previous Next All work saved Email Instructor Submit Test for Grading