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The following items are reported on a company's balance sheet: Cash $258,000 Marketable securities 114,000 Accounts receivable 187,000 Inventory 204,000 Notes payable (short-term) 249,000 Determine

The following items are reported on a company's balance sheet:

Cash	$258,000
Marketable securities	114,000
Accounts receivable	187,000
Inventory	204,000
Notes payable (short-term)	249,000

Determine the (a) current ratio and (b) quick ratio. Round your answers to one decimal place.

a. Current ratio
b. Quick ratio

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