Accounting help please ?

Question

calculate quick ratio and current ratio?

following are accounts:

cash and cash equivalent - 350

trade recivables - 20

inventories - 20

prepaid expenses and other - 10

income tax recivable - 20

deffred tax assest - 10

total current assests - 430

 

total current liablities - 100

Answer 1

1. Quick Ratio or Acid Test= current assets minus inventory / current liabilities = (350+20)/100=3.7

2. Current Ratio = current assets / current liabilities = (350+20+20)/100 = 3.9