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The following items are reported on a company's balance sheet: Cash $601,100 Marketable securities 469,600 Accounts receivable (net) 572,900 Inventory 234,800 Accounts payable 587,000 Determine
The following items are reported on a company's balance sheet:
| Cash | $601,100 |
| Marketable securities | 469,600 |
| Accounts receivable (net) | 572,900 |
| Inventory | 234,800 |
| Accounts payable | 587,000 |
Determine (a) the current ratio and (b) the quick ratio. Round to one decimal place.
| a. Current ratio | |
| b. Quick ratio |
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GEN COMBO LOOSELEAF FINANCIAL ACCOUNTING CONNECT ACCESS CARD
Authors: Robert Libby ,Patricia Libby ,Frank Hodge
9th Edition
1259912310, 978-1259912313
