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Current Position Analysis The following items are reported on a company's balance sheet: Cash$405,900Marketable securities317,100Accounts receivable (net)364,200Inventory181,200Accounts payable453,000 Determine (a) the current ratio and (b)

Current Position Analysis

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

Cash$405,900Marketable securities317,100Accounts receivable (net)364,200Inventory181,200Accounts payable453,000

Determine (a) thecurrent ratioand (b) thequick ratio. Round to one decimal place.

a.Current ratio b.Quick ratio

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