Current position analysis

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

Line Item Description Amount

Cash $$642,200$

Marketable securities $501,700$

Accounts receivable $($net$)655,300$

Inventory $207,600$

Accounts payable $692,000$

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

Line Item Description Ratio

a$.$ Current ratio fill in the blank $1$

b$.$ Quick ratio fill in the blank $2$