The bond indenture for the 10-year, 8% debenture bonds dated January 2, 20Y8, required working capital of $200,000, a current ratio of 2.0, and a quick ratio of 1.0 at the end of each calendar year until the bonds mature. At December 31, 20Y9, the three measures were computed as follows:

1.	Current assets:
		Cash		$204,000
		Temporary investments		255,000
		Accounts receivable (net)		408,000
		Inventories		323,000
		Prepaid expenses		85,000
		Intangible assets		51,000
		Property, plant, and equipment		918,000
			Total current assets (net)			$2,244,000
	Current liabilities:
		Accounts and short-term notes payable		$189,000
		Accrued liabilities		216,000
			Total current liabilities			(405,000)
	Working capital					$1,839,000
2.	Current ratio			5.5		$2,244,000 $405,000
3.	Quick ratio			5.9		$1,122,000 $189,000

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, except: