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Problem 7-7 Current and Quick Ratios Ace Industries has current assets equal to $7 million....

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Accounting

Problem 7-7 Current and Quick Ratios Ace Industries has current assets equal to $7 million. The company's current ratio is 2.0, and its quick ratio is 1.5. What is the firm's level of current liabilities? Enter your answer in dollars. For example, an answer of $1.2 million should be entered as 1,200,000 $ What is the firm's level of inventories? Enter your answer in dollars. For example, an answer of $1.2 million should be entered as 1,200,000 $

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