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In: AccountingData pertaining to the current position of Lucroy IndustriesInc. follow:Cash$420,000Marketable securities177,500...Data pertaining to the current position of Lucroy IndustriesInc. follow:Cash$420,000Marketable securities177,500Accounts and notes receivable (net)335,000Inventories700,000Prepaid expenses40,000Accounts payable190,000Notes payable (short-term)240,000Accrued expenses295,000Required:1. Compute (a) the working capital, (b) thecurrent ratio, and (c) the quick ratio. Round ratios to one decimalplace.2. Compute the working capital, the currentratio, and the quick ratio after each of the following transactionsand record the results in the appropriate columns. Considereach transaction separately and assume that only thattransaction affects the data given. Round ratios to one decimalplace.TransactionWorking CapitalCurrent RatioQuick Ratioa. Sold marketable securities at no gain or loss, $60,000.$b. Paid accounts payable, $130,000.$c. Purchased goods on account, $135,000.$d. Paid notes payable, $110,000.$e. Declared a cash dividend, $150,000.$f. Declared a common stock dividend on common stock,$55,000.$g. Borrowed cash from bank on a long-term note, $210,000.$h. Received cash on account, $125,000.$i. Issued additional shares of stock for cash, $585,000.$j. Paid cash for prepaid expenses, $15,000.