Hannah Company has current assets equal to $3,800,000. Of these, $1,200,000 is cash, $1,800,000 is accounts receivable, $500,000 is inventory, and the remainder is marketable securities. Current liabilities total $1,908,000.

Required:

Note: Round answers to two decimal places.

1. Calculate the current ratio.

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