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The following items are reported on a company's balance sheet: Cash $364,500 Marketable securities 284,800 Accounts receivable (net) 221,700 Inventory 268,000 Accounts payable 670,000 Determine
The following items are reported on a company's balance sheet:
| Cash | $364,500 |
| Marketable securities | 284,800 |
| Accounts receivable (net) | 221,700 |
| Inventory | 268,000 |
| Accounts payable | 670,000 |
Determine (a) the current ratio and (b) the quick ratio. Round your answers to one decimal place.
| a. Current ratio | |
| b. Quick ratio |
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Financial Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
10th Edition
0324380674, 978-0324380675
