A firm's long-term assets = $100,000, total assets = $400,000, inventory = $50,000 and current liabilities = $200,000.

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Current assets = Total assets - Long-term assets = $400,000 - $100,000 = $300,000. Current ratio = Current assets / Current liabilities = $300,000 / $200,000 = 1.5. Quick assets = Current assets - Inventory = $300,000 - $50,000 = $250,000. Quick ratio = Quick assets / Current liabilities = $250,000 / $200,000 = 1.25.

A Firm's Long-Term Assets = $100,000, Total Assets = $400,000