The following items are reported on a company's balance sheet:
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Cash
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$160,000
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Marketable securities
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75,000
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Accounts receivable (net)
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65,000
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Inventory
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140,000
|
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Accounts payable
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200,000
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Determine (a) the current ratio and (b) the quick ratio. Round to one decimal place.
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a. Current ratio
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b. Quick ratio
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