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

Cash	$341,100
Marketable securities	266,500
Accounts receivable (net)	144,800
Inventory	313,500
Accounts payable	627,000

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

a. Current ratio
b. Quick ratio

2.

A company reports the following:

Sales	$1,162,890
Average accounts receivable (net)	43,070

Determine (a) the accounts receivable turnover and (b) the number of days' sales in receivables. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume a 365-day year.

a. Accounts receivable turnover
b. Number of days' sales in receivables