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The following items are reported on Denver Company's balance sheet: Cash...

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Accounting

The following items are reported on Denver Company's balance sheet:

Cash $190,000
Marketable securities 160,000
Accounts receivable (net) 240,000
Inventory 350,000
Accounts payable 600,000

Required:

Determine (1) the current ratio and (2) the quick ratio. Round your answers to one decimal place.

1. Current ratio
2. Quick ratio

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