Question: Question Content Area The following items are reported on a company's balance sheet: Line Item Description Amount Cash $272,400 Marketable securities 103,500 Accounts receivable 247,200

Question Content Area

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

Line Item Description Amount
Cash $272,400
Marketable securities 103,500
Accounts receivable 247,200
Inventory 198,200
Accounts payable 292,100

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

Line Item Description Amount
a. Current ratio fill in the blank 1
b. Quick ratio fill in the blank 2

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