End of Chapter Exercise 16.11 The following information has been extracted from the financial statements of Blue Hills Ltd. Cash at bank Marketable securities Accounts receivable Inventory Prepaid expenses Plant and equipment Accounts payable Bills payable Accrued expenses 2018 $120,000 265,000 310,000 710,000 24,000 1,250,000 900,000 62,000 6,900 2017 $137,000 243,000 293,000 730,000 59,000 1,290,000 826,500 49,500 2,600 Calculate the following for 2017 and 2018: (Round answers to 2 decimal places, e.g. 52.75.) 2017 2018 1. Current ratio 2. Quick ratio