Question: ou are evaluating the balance sheet for SophieLex's Corporation. From the balance sheet you find the following balances: cash and marketable securities = $290,000; accounts

ou are evaluating the balance sheet for SophieLex's Corporation. From the balance sheet you find the following balances: cash and marketable securities = $290,000; accounts receivable = $1,360,000; inventory = $2,260,000; accrued wages and taxes = $580,000; accounts payable = $880,000; and notes payable = $760,000.

Calculate SophieLex's current ratio, quick ratio, and cash ratio.

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