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Current Position Analysis The following items are reported on a company's balance sheet: Cash $225,300 Marketable securities 176,000 Accounts receivable (net) 126,700 Inventory 176,000 Accounts

Current Position Analysis

The following items are reported on a company's balance sheet:

Cash	$225,300
Marketable securities	176,000
Accounts receivable (net)	126,700
Inventory	176,000
Accounts payable	440,000

Determine (a) the current ratio and (b) the quick ratio. Round to one decimal place.

a. Current ratio
b. Quick ratio

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