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Given the following information, compute the current and quick ratios: Cash $ 80,000 Accounts receivable 304,000 Inventory 437,000 Current liabilities 519,000 Long-term debt 663,000 Equity

Given the following information, compute the current and quick ratios:

Cash	$	80,000
Accounts receivable		304,000
Inventory		437,000
Current liabilities		519,000
Long-term debt		663,000
Equity		583,000

Round your answers to two decimal places.

Current ratio: :1

Quick ratio: :1

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