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The following items are reported on a company's balance sheet: Cash $258,000 Marketable securities 114,000 Accounts receivable187,000 Inventory 204,000 Notes payable (short-term) 249,000 Determine the

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

Cash $258,000 Marketable securities 114,000 Accounts receivable187,000 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.

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