ated to Checkpoint $4\mathrm{.}1)($Analyzing liquidity$)$ The most recent balance sheet of Raconteurs, Inc., is found here:

alculate Raconteurs' current ratio and acid$-$test $($quick$)$ ratio.

enchmark ratios for the current and acid$-$test $($quick$)$ ratio are $1\mathrm{.}46$ and $1\mathrm{.}24,$ respectively. What can you say about the liquidity of Raconteurs' operations based on these ratios?

Calculate Raconteurs' current ratio and acid$-$test $($quick$)$ ratio.

conteurs' current ratio is

$($Round to two decimal places.$)$

Data table

$($Click on the following icon

in order to copy its contents into a spreadsheet$)$

$\backslash$table$[[$Raconteurs$,$ Inc.,$],[$Balance Sheet $($ $ millions$),],[$Current assets,$],[$Cash and marketable securities$,],[$Accounts receivable,$510\mathrm{.}3],[$Inventory$,59\mathrm{.}9],[$Total current assets,$$110\mathrm{.}7$