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The following information is from the December 31, 2023 balance sheet of Westfield Sports Corp: cash, $820,000; accounts receivable, $240,000; inventories, $470,000; PPE assets, $910,000;

  1. The following information is from the December 31, 2023 balance sheet of Westfield Sports Corp: cash, $820,000; accounts receivable, $240,000; inventories, $470,000; PPE assets, $910,000; accounts payable, $350,000; and income taxes payable, $180,000. Calculate the (a) current ratio, and (b) quick ratio.

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