Calculate the current ratio and the quick ratio for the following partial financial statement for Tootsie Roll. (Round your answers to the nearest hundredth.)

Assets				Liabilities
Current assets:				Current liabilities:
Cash and cash equivalents (Note 1)	$	4,254,190		Notes payable to banks	$	642,221
Investments (Note 1)		32,563,769		Accounts payable		6,974,075
Accounts receivable, less allowances of $751,000 and $747,000		16,236,648		Dividends payable		546,607
Inventories (Note 1):				Accrued liabilities (Note 5)		9,796,534
Finished goods and work in progress		12,680,955		Income taxes payable		4,441,429
Raw materials and supplies		10,305,858
Prepaid expenses		2,067,710

Current ratio
Quick ratio