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Current Position Analysis The following items are reported on a company's balance sheet: Cash $613,100 Marketable securities 479,000 Accounts receivable (net) 576,500 Inventory 247,200 Accounts
Current Position Analysis
The following items are reported on a company's balance sheet:
| Cash | $613,100 |
| Marketable securities | 479,000 |
| Accounts receivable (net) | 576,500 |
| Inventory | 247,200 |
| Accounts payable | 618,000 |
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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