ance sheet of Raconteurs, Inc., is as follows: Raconteurs, Inc. Balance Sheet (S millions) Current assets: Cash and marketable securities Accounts receivable Inventory Total current assets Current liabilities: Accrued wages and taxes Accounts payable Notes payable Total current liabilities $ 10 40 60 $110 $5 35 30 $ 70 The most recent bal- a. Calculate Raconteurs' current ratio and acid-test (quick) ratio. b. Benchmark ratios for the current and acid-test (quick) ratios are 1.50 and 1.20, respectively. What can you say about the liquidity of Raconteur's operations based on these two ratios?