Effect of Transactions on Current Position Analysis Data pertaining to the current position of Lucroy Industries Inc. are as follows: Cash Marketable securities $800,000 550,000 Accounts and notes receivable (net) 850,000 Inventories 700,000 Prepaid expenses 300,000 Accounts payable 1,200,000 Notes payable (short-term) 700,000 Accrued expenses 100,000 Required: 1. Compute (a) the working capital, (b) the current ratio, and (c) the quick ratio. Round ratios to one decimal place. a. Working capital 1,200,000 V b. Current ratio c. Quick ratio 1.6 V 1.1