trace co has the following year end account balances

Trace Co. has the following year end account balances: Cash $70,000 Inventories 10,000 Accounts receivable 20,000 Buildings Accounts payable 25,000 90,000 Required: Calculate (a) the current ratio (round to one decimal place) (b) the quick ratio (Round to one decimal place) Show your work to receive full credit T T T Arial TEE 3 (12pt)