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The current ratio and the quick ratio

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Reference no: EM131126944

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

Cash $140,000
Temporary investments 60,000
Accounts receivable (net) 40,000
Inventory 80,000
Accounts payable 160,000

Determine 

(a) The current ratio and 
(b) The quick ratio. Round to one decimal place 

Reference no: EM131126944

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