Gross profit $242,550 3. PE.17-03.ALGO (Algorithmic) Current Position Analysis The following items are reported on a company's balance sheet: Page 2 of $531,700 Cash Marketable securities 415,400 Accounts receivable (net) 392,900 Inventory Accounts payable 321,600 536,000 Determine (a) the current ratio and (b) the quick ratio. Round to one decimal place a. Current ratio b. Quick ratio