Question: Current position analysis The following items are reported on a company's balance sheet: Line Item Description Amount Cash $489,200 Marketable securities 382,200 Accounts receivable (net)

Current position analysis

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

Line Item Description Amount
Cash $489,200
Marketable securities 382,200
Accounts receivable (net) 439,000
Inventory 218,400
Accounts payable 546,000

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

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