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The following items are reported on a company's balance sheet: Cash $397,800 Marketable securities 310,800 Accounts receivable (net) 414,200 Inventory 120,300 Accounts payable 401,000 Determine
The following items are reported on a company's balance sheet:
Cash $397,800
Marketable securities 310,800
Accounts receivable (net) 414,200
Inventory 120,300
Accounts payable 401,000
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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