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Calculate the current ratio and quick ratio

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Reference no: EM131677531

Question - The following information has been extracted from the financial statements of Blue Hills Ltd.

 

2018

2017

Cash at bank

$140,000

$162,000

Marketable securities

315,000

288,000

Accounts receivable

370,000

347,000

Inventory

850,000

864,000

Prepaid expenses

28,000

70,000

Plant and equipment

1,500,000

1,530,000

Accounts payable

876,000

828,500

Bills payable

61,000

48,000

Accrued expenses

4,600

2,300

Required - Calculate the following 2017 and 2018:

1. Current ratio

2. Quick ratio

Reference no: EM131677531

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