Current Ratio and Quick (Acid-Test) Ratio Jordan Company provided the following information: ...

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Accounting

Current Ratio and Quick (Acid-Test) Ratio

Jordan Company provided the following information:

Current assets:
Cash $14,317,500
Accounts receivable 9,177,000
Inventories 9,372,500
Total current assets $32,867,000
Current liabilities $17,930,000

Required:

Note: Round answers to one decimal place.

1. Compute the current ratio.

2. Compute the quick (acid-test) ratio.

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