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

a.Current ratiofill in the blank 1

b.Quick ratiofill in the blank 2

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