The following items are reported on a companys balance sheet: Cash ............$250,000 Temporary investments .....180,000 Accounts receivable
Question:
Cash ............$250,000
Temporary investments .....180,000
Accounts receivable (net) .....220,000
Inventory ............200,000
Accounts payable ........500,000
Determine (a) the current ratio and (b) the quick ratio. Round to one decimal place.
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