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Current Position Analysis The following items are reported on a company's balance sheet: Cash $352,600 Marketable securities 275,500 Accounts receivable (net) 253,500 Inventory 220,400 Accounts

Current Position Analysis

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

Cash	$352,600
Marketable securities	275,500
Accounts receivable (net)	253,500
Inventory	220,400
Accounts payable	551,000

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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