The following items are reported on a company’s balance sheet: Cash $231,200 Temporary inves…

The following items are reported on a company’s balance sheet: Cash $231,200 Temporary inves…

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The following items are reported on a company’s balancesheet:Cash$231,200Temporary investments180,600Accounts receivable (net)140,700Inventory170,000Accounts payable425,000Determine (a) the current ratio and (b) the quick ratio. Roundto one decimal place.a. Current ratiob. Quick ratio

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