Question: Current Position Analysis The following items are reported on a company's balance sheet: Cash $304,000 Marketable securities 237,500 Accounts receivable (net) 218,500 Inventory 190,000 Accounts

Current Position Analysis

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

Cash $304,000

Marketable securities 237,500

Accounts receivable (net) 218,500

Inventory 190,000

Accounts payable 475,000

Determine (a) thecurrent ratioand (b) thequick ratio. Round to one decimal place.

a.Current ratio

b.Quick ratio

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