11) Measures of solvency and credit risk Shown below are selected items appearing in a recent balance sheet of Grant Products. (Dollar amounts are in thousands.) Cash and cash equivalents Investments in marketable securities Receivables Inventories Prepaid expense and other current assets Plant and equipment Accounts payable Bank loans payable within one year Income taxes payable Retained earnings $620 $300 $1,400 $1,100 $450 $3,300 $1,600 $300 $300 $1.700 Compute the following: Total Quick Assets Total Current Assets Total Current Liabilities Quick Ratio Current Ratio to 1 to 1 b) Your Industry Research indicates an industry average quick ratio is 1.3 to 1, and a current ratio of 2.3 to 1. Based upon this information, does Grant Products appear more or less solvent than the average company in its industry? Expl