The Current Year-End Balance Sheet Data for a Company Are

The current year-end balance sheet data for a company are shown below.Calculate the company's:
(a)working capital
(b)current ratio
(c)acid-test ratio.
Assets:
$$\begin{array} { l l } \text { Cash } & \$ 38,000 \\\text { Marketable securities } & 45,000 \\\text { Accounts receivable (net) } & 127,500 \\\text { Merchandise inventory } & 149,500 \\\text { Long-term investments } & 135,000 \\\text { Plant assets (net) } & \$ 17,500 \\\text { Total assets } & \$ 1,012,500\end{array}$$
Liabilities and equity:
$$\begin{array} { l c } \text { Accounts payable } & \$ 148,700 \\\text { Accrued liabilities } & 90,000 \\\text { Notes payable (secured by plant assets) } & 254,800 \\\text { Common stock (\$1 2 par) } & 180,000 \\\text { Contributed capital in excess of par } & 135,000 \\\text { Retained earnings } & \underline { 204,000 } \\\text { Total liabilities and equity } & \$ 1,012,500\end{array}$$