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

question 106

Essay

The following items are reported on a company's balance sheet:
$\begin{array}{lr}\text { Cash } & \$ 400,000 \\\text { Marketable securities } & 50,000 \\\text { Accounts receivable } & 150,000 \\\text { Inventory } & 200,000 \\\text { Accounts payable } & 250,000\end{array}$
Determine the a current ratio,and b quick ratio.Round your answer to one decimal place.

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