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The following items are reported on a company's balance sheet: Cash $244,200 Marketable securities 190,800 Accounts receivable (net) 164,500 Inventory 163,500 Accounts payable 545,000 Determine
The following items are reported on a company's balance sheet:
| Cash | $244,200 |
| Marketable securities | 190,800 |
| Accounts receivable (net) | 164,500 |
| Inventory | 163,500 |
| Accounts payable | 545,000 |
Determine (a) the current ratio and (b) the quick ratio. Round to one decimal place.
| a. Current ratio | fill in the blank 1 |
| b. Quick ratio | fill in the blank 2 |
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