Calculate the current ratio and the quick ratio for the following partial financial statement for Tootsie Roll. (Round your answers to the nearest hundredth.) Liabilities Current liabilities: Notes payable to banks Accounts payable $ 4,314,190 32,623,769 $ 6 Assets Current assets: Cash and cash equivalents (Note 1) Investments (Note 1) Accounts receivable, less allowances of $757,000 and $753,000 Inventories (Note 1): Finished goods and work in progress Raw materials and supplies Prepaid expenses 16,296,648 Dividends payable Accrued liabilities (Note 5) Income taxes payable 9 4 12,740,955 10,365,858 2,127,710 Current ratio Quick ratio Calculate the current ratio and the quick ratio for the following partial financial statement for Tootsie Roll. (Round your answers to the nearest hundredth.) Liabilities Current liabilities: Notes payable to banks Accounts payable $ 4,314,190 32,623,769 $ 6 Assets Current assets: Cash and cash equivalents (Note 1) Investments (Note 1) Accounts receivable, less allowances of $757,000 and $753,000 Inventories (Note 1): Finished goods and work in progress Raw materials and supplies Prepaid expenses 16,296,648 Dividends payable Accrued liabilities (Note 5) Income taxes payable 9 4 12,740,955 10,365,858 2,127,710 Current ratio Quick ratio