Question
Current Position Analysis The following items are reported on a company's balance sheet: Cash $289,400 Marketable securities 226,100 Accounts receivable (net) 229,300 Inventory 159,600 Accounts
Current Position Analysis
The following items are reported on a company's balance sheet:
| Cash | $289,400 |
| Marketable securities | 226,100 |
| Accounts receivable (net) | 229,300 |
| Inventory | 159,600 |
| Accounts payable | 532,000 |
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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Financial Accounting
Authors: Patricia A. Libby, Daniel Short, George Kanaan, Maureen Libby Gowing, Robert Libby
4th Canadian Edition
0070001499, 9780070001497
