Current Position Analysis The bond indenture for the 10-year, 8% debenture bonds dated January 2, 2018, required working capital of 51,461,400, 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 $185,000 Temporary investments 232,500 Accounts receivable (net) 372,000 Inventories 294,500 Prepaid expenses 77.500 Intangible assets 46,500 Property, plant, and equipment 837.000 Total current assets (net) $2,046,000 Current liabilities: Accounts and short-term notes payable $224,000 Accrued liabilities 256,000 Total current abilities (480,000) Working capital $1,566,000 2. Current ratio $2,046,000 $450,000 3. Quck ratio 4.6 $1,023,000 1925.000 4.6 3. Quick ratio $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 Quick ratio b. Based on the data, all of the following are true, regarding the bond indenture, excepti The company is in compliance with the requirements of the bond indenture. on analysis. Determine the correct amounts, Rour The company may need to renegotiate the bond contract. The bank may downgrade the company's bond rating. The bank may require the company to pay a higher interest rate on the bond. The bank may attach one or more restrictive covenants to the bond, ture, except