Calculating the Current Ratio and the Quick $($or Acid$-$Test$)$ Ratio

Chen Company has current assets equal to $$5,000,000.$ Of these, $$1,000,000$ is cash, $$2,250,000$ is accounts receivable, $$500,000$ is inventory, and the remainder is marketable securities$.$ Current liabilities total $$4,000,000.$

Required:

Note: Round answers to two decimal places.

Calculate the current ratio.

Calculate the quick ratio $($acid$-$test ratio$).$