Question: The following items are reported on a companys balance sheet: Cash $190,000 Temporary investments 150,000 Accounts receivable (net) 260,000 Inventory 300,000 Accounts payable 600,000 Determine

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


Cash                                           $190,000

Temporary investments           150,000

Accounts receivable (net)         260,000

Inventory                                     300,000

Accounts payable                       600,000


Determine

(a) The current ratio and

(b) The quick ratio. Round to one decimal place.

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