Cornerstone Exercise 8-33 (Algorithmic) Liquidity Ratios XYZ's financial statements contain the following information: Cash $311,900 669,900 Accounts receivable Inventory Marketable securities Accounts payable Accrued expenses Long-term debt 823,900 103,900 593,000 177,000 1,230,000 Round answers to two decimal places. Required: 1. What is its current ratio? 2. What is its quick ratio? 3. What is its cash ratio? 4. Using the ratios computed above, answer the following regarding NWA's liquidity. NWA's current ratio depends on how liquid NWA's are. If the may be a better indicator of liquidity. If accounts receivable may be difficult to collect, the is slow moving, then the quick ratio is best indicator of liquidity