Current Position Analysis

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

Cash	$334,100
Marketable securities	261,000
Accounts receivable (net)	312,900
Inventory	136,200
Accounts payable	454,000

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

a. Current ratio
b. Quick ratio

Accounts Receivable Analysis

A company reports the following:

Sales	$1,931,580
Average accounts receivable (net)	71,540

Determine (a) the accounts receivable turnover and (b) the number of days' sales in receivables. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume a 365-day year.

a. Accounts receivable turnover
b. Number of days' sales in receivables	days