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  3. the following data were taken from the comparative

The following data were taken from the comparative balance sheet of Osborn Sisters Company for...

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Accounting

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: Dec. 31, 20Y9 Dec. 31, 20Y8

Cash $504,100 $394,000

Temporary investments 538,000 431,600

Accounts and notes receivable (net) 494,900 470,400

Inventories 691,700 583,200

Prepaid expenses 368,300 184,800

Total current assets $2,597,000 $2,064,000

Accounts payable $307,400 $336,000

Accrued liabilities 222,600 144,000

Total current liabilities $530,000 $480,000

a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place.

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