Item 4

Item 4 10 points You are evaluating the balance sheet for PattyCake's Corporation. From the balance sheet you find the following balances: cash and marketable securities = $470,000; accounts receivable = $1,060,000; inventory = $1,960,000; accrued wages and taxes = $430,000; accounts payable = $730,000; and notes payable = $460,000.

Calculate PattyCakes' current ratio. (Round your answer to 2 decimal places.)

Calculate PattyCakes' quick ratio. (Round your answer to 2 decimal places.)

Calculate PattyCakes' cash ratio. (Round your answer to 2 decimal places.)

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