Atluck Ltd. is a small manufacturing company in Nova Scotia. You have been provided with the following information from the company's most recent balance sheet:
Cash.................. $ 92,500
Accounts receivable............ 359,325
Inventory ................ 162,675
Prepaids .................. 72,000
Non-current assets .............. 1,008,875
Current liabilities............. 292,725
Non-current liabilities............ 628,650
Total shareholders' equity.......... 774,000

Required:
Calculate Atluck's current and quick ratios using the information from the most current balance sheet. If you were a prospective supplier to Atluck, would you be prepared to offer credit up to $10,000? Provide your reasons.