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The following items are reported on a company's balance sheet: Cash $100,000 Marketable securities 50,000 Accounts receivable (net) 60,000 Inventory 70,000 Accounts payable 140,000 Determine
The following items are reported on a company's balance sheet:
| Cash | $100,000 |
| Marketable securities | 50,000 |
| Accounts receivable (net) | 60,000 |
| Inventory | 70,000 |
| Accounts payable | 140,000 |
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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