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Current Ratio and Quick ( Acid - Test ) Ratio Barkley Company provided the following information: Current assets: Cash $ 1 2 , 4 5

Current Ratio and Quick (Acid-Test) Ratio
Barkley Company provided the following information:
Current assets:
Cash
$12,450,000
Accounts receivable
9,177,000
Inventories
9,780,000
Total current assets
$31,407,000
Current liabilities
$19,560,000
Note: Round answers to one decimal place.
Compute the current ratio.
Compute the quick (acid-test) ratio.
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