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Current Ratio and Quick (Acid-Test) Ratio Jordan Company provided the following information: Current assets: Cash $13,695,000 Accounts receivable 9,177,000 Inventories 7,335,000 Total current assets $30,207,000

Current Ratio and Quick (Acid-Test) Ratio

Jordan Company provided the following information:

Current assets:
	Cash	$13,695,000
	Accounts receivable	9,177,000
	Inventories	7,335,000
Total current assets		$30,207,000
Current liabilities		$14,670,000

Required:

Note: Round answers to one decimal place.

1. Compute the current ratio. fill in the blank

2. Compute the quick (acid-test) ratio.

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