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

The following items are reported on Denver Company's balance sheet:
​ $$\begin{array} { | l | r | } \hline \text { Cash } & \$ 190,000 \\\hline \text { Marketable securities } & 160,000 \\\hline \text { Accounts receivable (net) } & 240,000 \\\hline \text { Inventory } & 350,000 \\\hline \text { Accounts payable } & 600,000 \\\hline\end{array}$$ ​
Determine (a) the current ratio and (b) the quick ratio. Round to one decimal place.

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