etable securities unts receivable ntory unts payable rmine the (a) current ratio, and (b) qu
etable securities unts receivable ntory unts payable rmine the (a) current ratio, and (b) qu
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The following items are reported on a company's balance sheet:
$212,700
90,200
252,800
196,700
278,400
Cash
Marketable securities
Accounts receivable
Inventory
Accounts payable
Determine the (a) current ratio, and (b) quick ratio. Round your answers to one decimal place.
a. Current ratio
b. Quick ratio
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