Ace Industries has current assets equal to $2 million. The company's current ratio is 2.5, and its quick ratio is 2.0.

1a.What is the firm's level of current liabilities? Enter your answer in dollars. For example, an answer of $1.2 million should be entered as 1,200,000

1b. What is the firm's level of inventories? Enter your answer in dollars. For example, an answer of $1.2 million should be entered as 1,200,000