Question: Question Content Area Current Position Analysis The following items are reported on a company's balance sheet: Cash $540,700 Marketable securities 422,400 Accounts receivable (net) 419,300

  1. Question Content Area

    Current Position Analysis

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

    Cash $540,700
    Marketable securities 422,400
    Accounts receivable (net) 419,300
    Inventory 307,200
    Accounts payable 512,000

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

    a. Current ratio fill in the blank 1
    b. Quick ratio fill in the blank 2

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