please write and explain clearly. calculate the liquid ratio please! write the formula that i can follow step by step

Question 10 The following is a simplified financial position statement for a company: $ $ Assets Cash 1230 000 Trading securities 200 000 $ Liabilities 250 Accounts 000 payable 360 Accrued 000 expenses payable 1480 Taxes 000 payable 2250 Long-term 000 debt 140 000 Accounts receivable Inventory 3 850 000 Shareholders 2 funds 340 000 Property 3 350 000 Equipment 450 000 Calculate the liquid ratio (two decimal places)