Current Position Analysis The following items are reported on a company's balance sheet: Cash $274,700 Marketable securities 214,600 Accounts receivable (net) 116,700 Inventory 252,500 Accounts payable 505,000 Determine (a) the current ratio and (b) the quick ratio. Round to one decimal place. a. Current ratio b. Quick ratio Earnings per Share and Price-Earnings Ratio A company reports the following: Net income $263,000 Preferred dividends $15,000 Shares of common stock outstanding 40,000 Market price per share of common stock $21.08 a. Determine the company's earnings per share on common stock. Round your answer to the nearest cent. Use the rounded answer of requirement a for subsequent requirement, if required b. Determine the company's price earnings ratio. Round to one decimal place