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The following items are reported on a companys balance

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

Cash $190,000
Temporary investments 150,000
Accounts receivable (net) 260,000
Inventory 300,000
Accounts payable 600,000

Determine

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

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Accounting Basics: The following items are reported on a companys balance

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Accounting Basics: The following items are reported on a companys balance

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