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  3. the following amounts were reported by liquid comp

The following amounts were reported by Liquid Company in its most recent statement of financial...

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The following amounts were reported by Liquid Company in its most recent statement of financial position: Cash Accounts receivable (net) Short-term investments Inventory Prepaid insurance Property, plant, and equipment (net) 960,000 Accounts payable Wages payable Income tax payable Sales tax payable Notes payable (due within one year) 90,000 Bank loan payable (due in three years) 50,000 $51,900 130,000 24,000 390,000 45,000 89,000 37,000 64,000 10,000 Calculate the current ratio and quick ratio for Liquid Company. (Round answers to 2 decimal places, e.g. 15.25.) Current ratio Quick ratio

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