ABC Corporation has a current ratio of 2:1 and a quick ratio of 1.5:1. The company's current assets are $800,000 and its current liabilities are $400,000. Determine the following:

a) The company's total assets
b) The company's inventory balance
c) The company's accounts receivable balance
d) The company's accounts payable balance

Assume that all of the company's current assets are either inventory or accounts receivable.

Answer rating: 100% (QA)

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