The Following Data Are Taken from the Balance Sheet at the End

question 36

Essay

The following data are taken from the balance sheet at the end of the current year.
​ $$\begin{array} { l r } \text { Cash } & \$ 154,000 \\\text { Accounts receivable } & 210,000 \\\text { Inventory } & 240,000 \\\text { Prepaid expenses } & 15,000 \\\text { Marketable securities } & 350,000 \\\text { Property, plant, and equipment } & 375,000 \\\text { Accounts payable } & 245,000 \\\text { Accrued liabilities } & 4,000 \\\text { Income tax payable } & 10,000 \\\text { Notes payable, short-term } & 85,000\end{array}$$ ​
Determine the (a) working capital, (b) current ratio, and (c) quick ratio. Round ratios to one decimal place.
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