Determine the current ratio and quick ratio

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Reference no: EM131289620

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

Cash $230,000

Marketable securities 50,000

Accounts receivable 200,000

Inventory 240,000

Accounts payable 300,000

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

Reference no: EM131289620

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