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Current Position Analysis The following items are reported on a company's balance sheet: Cash $330,800 Marketable securities 258,400 Accounts receivable (net) 282,900 Inventory 161,500 Accounts
Current Position Analysis
The following items are reported on a company's balance sheet:
| Cash | $330,800 |
| Marketable securities | 258,400 |
| Accounts receivable (net) | 282,900 |
| Inventory | 161,500 |
| Accounts payable | 323,000 |
Determine (a) the current ratio and (b) the quick ratio. Round to one decimal place.
| a. Current ratio | fill in the blank 1 |
| b. Quick ratio | fill in the blank 2 |
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College Accounting A Practical Approach Chapters 1-25
Authors: Jeffrey Slater
12th Edition
013277206X, 978-0132772068
