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Answer each of the questions in the following unrelated situations. (a) The current ratio of a company is 6:1 and its acid-test ratio is 1:1. If the imventories and prepaid items armount to $181,000, what is the amount of current liabilities? Current Liabilities (b) A company had an average inventory last year of $185,000 and its inventory turnover was 6. If sales volume and unit cost remain the same this year as last and imventory turnover is 8 this year, what will average irventory have to be during the current year? (Round answer to O decimol ploces, eg. 125.) Average Imventory $ (c) A company has current assets of $82,000 (of which $44,000 is inventory and prepaid items) and current liabilities of $44,000. What is the current ratio? What is the acid-test ratio? If the company borrows $16,000 cash from a bank on a 120-day loan, what will its current ratio ty? What will the acid-test ratio be? (Round answers to 2 decimal places, es. 2.50.) Current Ratio Acid Test Ratio New Current Ratio New Acid Test Ratio 1 (d) A company has current assets of $640,000 and current liabilities of $236,000. The board of directors declares a cash dividend of $190,000. What is the current ratio after the declaration but before payment? What is the current ratio after the payment of the dividend? (Round answers to 2 decimal places, eg. 2.50.) Current ratio after the declaration but before payment Current ratio after the payment of the dividend

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