ED 1. Calculate Raconteurs current ratio and acid-test (quick) ratio . Benchmark ratios for the current and acid-test (quick) ratio are 1.48 and 123, respectively. What can you say about the liquidity of Raconteur's operations based on these two ratios a. Calculate Raconteurs current ratio and acid-test (quick) ratio Raconteurs' current ratio is (Round to two decimal places.) Raconteurs' acid test ratio is (Round to two decimal places) b. Benchmark ratios for the current and acid-test (quick) ratio are 1 48 and 123, respectively. What can you say about the liquidity of Raconteur's operations based on these two ratios? A Based on its current ratio, Raconteurs Inc is slightly less liquid than the peer group since its current ratio is higher. 8. Raconteurs' acid-test ratio indicates lower liquidity than its current ratio and Raconteur's acid-test ratio shows lower liquidity when compared against the industry average DC Raconteurs acid-test ratio indicates higher liquidity than its current ratio and Racontour's acid-test ratio shows higher liquidity when compared against the industry average D. Based on its current ratio Raconteurs, Inc. is slightly more liquid than the peer group since its current ratio is higher Data Table U Current assets Cash and marketable securities Accounts receivable Inventory Total current assets Current liabilities Accrued wages and taxes Accounts payable Notes payable Total current liabilities $10.4 $40.1 $60.2 $110.7 $5.4 $34.6 $29.1 $69.1