The Following Items Are Reported on a Company's Balance Sheet

Essay

The following items are reported on a company's balance sheet: $$\begin{array} { l r } \text { Cash } & \$ 230,000 \\\text { Marketable securities } & 50,000 \\\text { Accounts receivable } & 200,000 \\\text { Inventory } & 240,000 \\\text { Accounts payable } & 300,000\end{array}$$ ​
Determine the (a) current ratio, and (b) quick ratio. Round your answer to one decimal place.