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You are evaluating the balance sheet for Patty Cake's Corporation. From the balance sheet you find the following balances: cash and marketable securities = $400,000,

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You are evaluating the balance sheet for Patty Cake's Corporation. From the balance sheet you find the following balances: cash and marketable securities = $400,000, accounts receivable = $1,200,000, inventory = $2,100,000, accrued wages and taxes = $500,000, accounts payable = $800,000, and notes payable = $600,000. Calculate Patty Cake's current ratio. (Round your answer to 2 decimal places.) Current ratio times Calculate Patty Cake's quick ratio (Round your answer to 2 decimal places.) Quick ratio times Carta Damatele rachatin D a ne Calculate the debt-to-equity. (Round your answers to 2 decimal places.) Lots Debt Inc LotsofEquity, Inc. Debt-to-equity times times

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