Question: A small restaurant reported the following current assets at year's end: Cash $2,440, credit card receivables $1,402, accounts receivable $440, food inventories $2,680, prepaid insurance

A small restaurant reported the following current assets at year's end:

A small restaurant reported the following current assets at year's end: Cash $2,440, credit card receivables $1,402, accounts receivable $440, food inventories $2,680, prepaid insurance $1,200, and prepaid rent $1,500. Current liabilities were $3,426. (a) Complete a common-size vertical analysis of current assets. (b) Calculate the current and quick ratios

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