Question
The following items are reported on a company's balance sheet:
Determine (a) the current ratio and (b) the quick ratio. Round to one decimal place.
|
Cash |
$100,000 |
|
Marketable securities |
50,000 |
|
Accounts receivable (net) |
60,000 |
|
Inventory |
70,000 |
|
Accounts payable |
140,000 |
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