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Balance Sheet Ratio Calculation : Compute the current ratio and quick ratio for a company using the following balance sheet data: Current Assets = $200,000,

Balance Sheet Ratio Calculation: Compute the current ratio and quick ratio for a company using the following balance sheet data: Current Assets = $200,000, Current Liabilities = $100,000, Inventory = $40,000, Prepaid Expenses = $10,000, Accounts Payable = $30,000. What are the ratios?

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