Question

The following items are reported on a company’s balance sheet:
Cash .......... $125,000
Marketable securities ...... 40,000
Accounts receivable (net) .... 30,000
Inventory ......... 120,000
Accounts payable ...... 150,000

Determine
(a) The current ratio and
(b) The quick ratio. Round to one decimal place.



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  • CreatedJuly 17, 2012
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