Question: Current Position Analysis The following items are reported on a company's balance sheet: Cash $440,000 Marketable securities 343,800 Accounts receivable (net) 278,700 Inventory 312,500 Accounts

Current Position Analysis

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

Cash $440,000
Marketable securities 343,800
Accounts receivable (net) 278,700
Inventory 312,500
Accounts payable 625,000

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

a. Current ratio fill in the blank 1
b. Quick ratio fill in the blank 2

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