The Following Items Are Reported on a Company's Balance Sheet

question 46

Essay

The following items are reported on a company's balance sheet:
​ $$\begin{array} { l r } \text { Cash } & \$ 258,000 \\\text { Marketable securities } & 114,000 \\\text { Accounts receivable } & 187,000 \\\text { Inventory } & 204,000 \\\text { Notes payable (short-term) } & 249,000\end{array}$$ ​
Determine the (a) current ratio and (b) quick ratio.(Round your answer to one decimal place.)

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Definitions:

Residential Care Facility

A housing option for individuals who need assistance with daily living activities but do not require the full-time health care services provided by a nursing home.

Power Of Attorney

A legal document authorizing one person to act on another's behalf in private affairs, business, or some other legal matter.

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Refers to the process of increasing the capacity of individuals or groups to understand and use the law to advance justice and economic and social development.

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