2. Liquidity ratios A liquid asset can be converted to cash quickly without significantly impacting the asset's value. Which of the following asset classes is generally considered to be the most liquid? O Cash O Accounts receivable O Inventories The most recent data from the annual balance sheets of N&B Equipment Company and Jing Foodstuffs Inc. are as follows: N&B Equipment Company Assets Current assets Cash Balance Sheet December 31st(Millions of dollars) Jing N&B Jing Foodstuffs Equipment Foodstuffs Inc. Company Inc. Liabilities Current liabilities $574 $369 Accounts $0 payable 210 135 Accruals 127 $0 0 Accounts receivable Inventories 616 396 717 675 1,400 900 Notes payable Total current liabilities 844 675 1,031 825 Total current assets Net fixed assets Net plant and equipment Long-term bonds Total debt 1,100 1,100 1,875 1,500 406 325 219 175 Common equity Common stock Retained earnings Total common equity Total liabilities and equity 625 500 Total assets 2,500 2,000 2,500 2,000 N&B Equipment Company's current ratio is Foodstuffs Inc.'s current ratio is values to four decimal places. , and its quick ratio is , and its quick ratio is ; Jing Note: Round your 2. Liquidity ratios A liquid asset can be converted to cash quickly without significantly impacting the asset's value. Which of the following asset classes is generally considered to be the most liquid? O Cash O Accounts receivable O Inventories The most recent data from the annual balance sheets of N&B Equipment Company and Jing Foodstuffs Inc. are as follows: N&B Equipment Company Assets Current assets Cash Balance Sheet December 31st(Millions of dollars) Jing N&B Jing Foodstuffs Equipment Foodstuffs Inc. Company Inc. Liabilities Current liabilities $574 $369 Accounts $0 payable 210 135 Accruals 127 $0 0 Accounts receivable Inventories 616 396 717 675 1,400 900 Notes payable Total current liabilities 844 675 1,031 825 Total current assets Net fixed assets Net plant and equipment Long-term bonds Total debt 1,100 1,100 1,875 1,500 406 325 219 175 Common equity Common stock Retained earnings Total common equity Total liabilities and equity 625 500 Total assets 2,500 2,000 2,500 2,000 N&B Equipment Company's current ratio is Foodstuffs Inc.'s current ratio is values to four decimal places. , and its quick ratio is , and its quick ratio is ; Jing Note: Round your