Question: Current Position Analysis The following items are reported on a company's balance sheet: Cash $247,700 Marketable securities 193,500 Accounts receivable (net) 178,000 Inventory 154,800 Accounts

Current Position Analysis

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

Cash	$247,700
Marketable securities	193,500
Accounts receivable (net)	178,000
Inventory	154,800
Accounts payable	387,000

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

a. Current ratio	2
b. Quick ratio

Accounts Receivable Analysis

A company reports the following:

Sales	$341,640
Average accounts receivable (net)	18,980

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	18
b. Number of days' sales in receivables	days

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