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The following items are reported on Denver Company's balance sheet: Cash $190,000 Marketable securities 160,000 Accounts receivable (net) 240,000 Inventory 350,000 Accounts payable 600,000 Required:
The following items are reported on Denver Company's balance sheet:
| Cash | $190,000 |
| Marketable securities | 160,000 |
| Accounts receivable (net) | 240,000 |
| Inventory | 350,000 |
| Accounts payable | 600,000 |
Required:
Determine (1) the current ratio and (2) the quick ratio. Round your answers to one decimal place.
| 1. Current ratio | |
| 2. Quick ratio |
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Modern Management Control Systems Text And Cases
Authors: Kenneth A. Merchant
1st Edition
0135541557, 978-0135541555
