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

Line Item Description Amount

Cash $$422,400$

Marketable securities $330,000$

Accounts receivable $($net$)292,600$

Inventory $275,000$

Accounts payable $550,000$

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

Line Item Description Ratio

a$.$ Current ratio fill in the blank $1$

b$.$ Quick ratio fill in the blank $2$