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Current Position Analysis The following items are reported on a company's balance sheet: Cash $435,200 Marketable securities 340,000 Accounts receivable (net) 303,500 Inventory 281,400 Accounts

Current Position Analysis

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

Cash	$435,200
Marketable securities	340,000
Accounts receivable (net)	303,500
Inventory	281,400
Accounts payable	469,000

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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