Question
Current Position Analysis The following items are reported on a company's balance sheet: Cash $283,300 Marketable securities 221,400 Accounts receivable (net) 101,100 Inventory 279,600 Accounts
Current Position Analysis
The following items are reported on a company's balance sheet:
| Cash | $283,300 |
| Marketable securities | 221,400 |
| Accounts receivable (net) | 101,100 |
| Inventory | 279,600 |
| Accounts payable | 466,000 |
Determine (a) the current ratio and (b) the quick ratio. Round your answers to one decimal place.
| a. Current ratio | fill in the blank 1 |
| b. Quick ratio | fill in the blank 2 |
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Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
26th edition
128574361X, 978-1305446052, 1305446054, 978-1285743615
