Question: Current Position Analysis The following items are reported on a company's balance sheet: Cash $358,000 Marketable securities 279,700 Accounts receivable (net) 217,700 Inventory 263,200 Accounts

  1. Current Position Analysis

    The following items are reported on a company's balance sheet:

    Cash $358,000
    Marketable securities 279,700
    Accounts receivable (net) 217,700
    Inventory 263,200
    Accounts payable 658,000

    Determine (a) the current ratio and (b) the quick ratio. Round to one decimal place.

    a. Current ratio
    b. Quick ratio

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