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Question 1 (10 points) A summary of selected ledger accounts appear below for S. Ball for the current calendar year. Answer questions 1 through 4 based on this information. S. Ball. Capital 1231 6,500 S Ball. Withdrawals 1 1 27.000 331 2,000 12 31 4,250 12 31 6.000 10:31 3.000 1.000 12/22 Income Summary 1231 12.750 1231 17,000 1231 4.250 1. What was the total amount of withdrawals for the year? $6500 $1000 $3000 Question 1 (10 points) As of December 31, the Stanford company has the following information. Use this information to answer questions 1 to 3. Cash $5,000 Accounts Receivable 15,000 Inventory 40,000 Prepaid Insurance 3000 Long-term Assets 100,000 Accounts Payable 15,000 Notes Payable in 5 Months 12,500 Salary Payable 25,000 Notes Payable in 5 Years 35,000 Owner's Equity 98,000 1. What is the company's Quick Ratio? 1.70 0.70 0.38