The following data were taken from the comparative balance sheet of Osborn Sisters Company for the years ended December 31, 20Y9 and December 31, 20Y8:

a. Determine for each year
(1) The working capital,
(2) The current ratio, and
(3) The quick ratio.
b. What conclusions can be drawn from these data?

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Dec. 31, 20Y9 Dec. 31, 20Y8 Cash Temporary investments Accounts and notes receivable (net) 150,000 250,000 500,000 850,000 50,000 1,800,000 $ 700,000 50,000 S 750,000 $ 100,000 150,000 400,000 610,000 40,000 $1,300,000 S460,000 40,000 500,000 Prepaid expenses Total current assets Accounts payable Accrued liabilities Total current liabilities