(Answered) Current ratio and quick acid-test ratiojordan company

Accounting

Current Ratio and Quick (Acid-Test) Ratio

Jordan Company provided the following information:

Current assets:
Cash $13,695,000
Accounts receivable 7,429,000
Inventories 9,372,500
Total current assets $30,496,500
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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