USING EXCEL FORMULAS IN EXCEL.Josh Smith has compiled some of his personal financial data in order to determine his liquidity position. The data are as follows:

Account	Amount
Cash	$ 3 comma 140$3,140
Marketable securities	1 comma 0201,020
Checking account	840840
Credit card payables	1 comma 1801,180
Short-term notes payable	10801080

a. Calculate Josh's liquidity ratio.

b.

Several of Josh's friends have told him that they have liquidity ratios of about

1.71.7.

How would you analyze Josh's liquidity relative to his friends?

a. Josh's liquidity ratio is

nothing.

(Round to two decimal places.)