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The following items are reported on a companys balance sheet:Cash$225,000Marketable securities115,000Accounts receivable (net)112,000Inventory158,000Accounts payable244,000 Determine (a) the current ratio and (b) the quick ratio. Round
"The following items are reported on a companys balance sheet:Cash$225,000Marketable securities115,000Accounts receivable (net)112,000Inventory158,000Accounts payable244,000 Determine (a) the current ratio and (b) the quick ratio. Round to one decimal place."
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