Question: Current position analysis The following items are reported on a companys balance sheet: Line Item Description Amount Cash $296,600 Marketable securities 185,000 Accounts receivable (net)

Current position analysis

The following items are reported on a companys balance sheet:

Line Item Description Amount
Cash $296,600
Marketable securities 185,000
Accounts receivable (net) 121,000
Inventory 127,000
Accounts payable 228,000

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

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