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chapter 16 Current position analysis The following items are reported on a company's balance sheet:...

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Accounting

chapter 16

Current position analysis

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

Line Item Description Amount
Cash $635,700
Marketable securities 496,700
Accounts receivable (net) 553,200
Inventory 301,000
Accounts payable 602,000

Determine (a) the current ratio and (b) the quick ratio. Round your answers to one decimal place.

Line Item Description Ratio
a. Current ratio fill in the blank 1
b. Quick ratio fill in the blank 2

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