(Answered) Question - the following information has been extracted

Accounting

Question - The following information has been extracted from the financial statements of Blue Hills Ltd.

	2018	2017
Cash at bank	$140,000	$162,000
Marketable securities	315,000	288,000
Accounts receivable	370,000	347,000
Inventory	850,000	864,000
Prepaid expenses	28,000	70,000
Plant and equipment	1,500,000	1,530,000
Accounts payable	876,000	828,500
Bills payable	61,000	48,000
Accrued expenses	4,600	2,300

Required - Calculate the following 2017 and 2018:

1. Current ratio

2. Quick ratio

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Accounting Basics, Accounting

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