Exercise 16-28 Name: Enter the appropriate amounts or formulas in the gray-shaded cells. An asterisk (*) will appear to the right of an incorrect amount. Current Current assets liabilities Current ratio 1. 2. Marketable securies Accounts receivable) Current liabilities Quick ratio ( Cash OBJECTIVE 3 Exercise 16-28 Current Ratio and Quick (Acid-Test) Ratio Jordan Company provided the following information: Current assets: Cash Accounts receivable Inventories Total current assets Current liabilities $12.450,000 8,740,000 8,150,000 $29,340,000 $16,300,000 Required: Note: Round answers to one decimal place. 1. Compute the current ratio. 2. Compute the quick (acid-test) ratio