1) The Ivy Corporation shows the following data: Current assets:                                                                                                                                                                                                                                                                              $400,000 Current liabilities:                                                                                                                                                                                                                                                          $210,000 Inventory:                                                                                                                                                                                                                                                                     500,000 Current assets                                                                                                                                                                        Calculate the Current Ratio and the Quick  Ratio (test ratio) for the Ivy Corporation.

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