Determine the current ratio and quick ratio

Reference no: EM13124787

The following items are reported on a company's balance sheet:

Cash $ 400,000
Marketable securities 50,000
Accounts receivable 150,000
Inventory 200,000
Accounts payable 250,000

Determine the (a) current ratio, and (b) quick ratio. Round your answer to one digit after the decimal.

Reference no: EM13124787

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