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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