The following amounts were reported on the december 31, 2019, balance sheet:
cash $ 16,000
accounts receivable 44,000
common stock 80,000
wages payable 10,000
retained earnings 160,000
land 40,000
accounts payable 30,000
bonds payable 240,000
merchandise inventory 60,000
buildings and equipment, net of accumulated depreciation 360,000
required:
a. calculate working capital at december 31, 2019.
b. calculate the current ratio at december 31, 2019.
c. calculate the acid-test ratio at december 31, 2019. (round your answer to 1 decimal place.)

Costco wholesale corporation operates membership warehouses selling food, appliances, consumer electronics, apparel and other household goods at 471 locations across the u. s. as well as in canada, mexico and puerto rico. as of its fiscal year-end 2005, costco had approximately 21.2 million members. selected fiscal-year information from the company's balance sheets follows. ($ millions). selected balance sheet data 2005 2004 merchandise inventories $4,015 $3,644 deferred membership income (liability) 501 454 (a) during fiscal 2005, costco collected $1,120 cash for membership fees. use the financial statement effectstemplate to record the cash collected for membership fees. (b) in 2005, costco recorded $46,347 million in merchandise costs (that is, cost of goods sold). record thistransaction in the financial statement effects template. (c) determine the value of merchandise that costco purchased during fiscal-year 2005. use the financial statementeffects template to record these merchandise purchases. assume all of costco's purchases are on credit.