The following information has been extracted from the financial statements of Blue Hills Ltd. Cash a

 
   

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The following information has been extracted from the financial statements of Blue Hills Ltd.
Cash at bank Marketable securities Accounts receivable Inventory Prepaid expenses Plant and equipment Accounts payable Bills payable Accrued expenses 2018 $145,000 320,000 375,000 860,000 29,000 1,500,000 874,000 64,000 5,500 2017 $166,000 294,000 354,000 883,000 72,000 1,560,000 836,500 53,500 4,000 Calculate the following for 2017 and 2018: (Round answers to 2 decimal places, e.g. 52.75.) 2017 2018 1. Current ratio 2. Quick ratio