Calculate the current ratio and the quick ratio for the following partial financial statement for Tootsie Roll. (Round your answers to the nearest hundredth.)

Assets				Liabilities
Current assets:				Current liabilities:
Cash and cash equivalents (Note 1)	$	4,144,190		Notes payable to banks	$	752,221
Investments (Note 1)		32,453,769		Accounts payable		7,084,075
Accounts receivable, less allowances of $740,000 and $736,000		16,126,648		Dividends payable		656,607
Inventories (Note 1):				Accrued liabilities (Note 5)		9,906,534
Finished goods and work in progress		12,570,955		Income taxes payable		4,551,429
Raw materials and supplies		10,195,858
Prepaid expenses		1,957,710

Current ratio
Quick ratio