Question: Given the following information, compute the current and quick ratios: Cash $ 120,000 Accounts receivable 379,000 Inventory 493,000 Current liabilities 450,000 Long-term debt 631,000 Equity

Given the following information, compute the current and quick ratios:

Cash $ 120,000
Accounts receivable 379,000
Inventory 493,000
Current liabilities 450,000
Long-term debt 631,000
Equity 626,000

Round your answers to two decimal places.

Current ratio: :1

Quick ratio: :1

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