Calculate quick ratio Assume the following information was derived from the fund financial statements prepared by the city of Tallahassee, Florida for the fiscal year ended September 30 , 2019: \begin{tabular}{|l|r|} \hline \multicolumn{1}{|c|}{ City of Tallahassee General Fund Balance Sheet (in thousands) } \\ \hline Assets: & \\ \hline Cash and cash equivalents & $4,340 \\ \hline Due from other governments & 0 \\ \hline All other assets & 12,269 \\ \hline Total assets & $16,609 \\ \hline Liabilities: & \\ \hline Total current liabilities & $11,287 \\ \hline Fund balance: & \\ \hline Nonspendable & 2,625 \\ \hline Committed & 0 \\ \hline Assigned & 0 \\ \hline Unassigned & 2,697 \\ \hline Total fund balance & 5,322 \\ \hline Total liabilities and fund balance & $16,609 \\ \hline \hline \end{tabular} City of Tallahassee General Fund Statement of Revenues, Expenditures, and Changes in Fund Balance (in thousands) Total revenues Total expenditures Excess of revenues over (under) expenditures Other financing sources (uses): Transfers in Transfers out Proceeds from sale of capital assets Total other financing sources (uses) Net change in fund balance Fund balance, October 1, 2019 Fund balance, September 30, 2019 \begin{tabular}{|r|} \hline$192,327 \\ \hline 287,828 \\ \hline95,501 \\ \hline \\ \hline 86,795 \\ \hline37,664 \\ \hline 753 \\ \hline 49,884 \\ \hline45,617 \\ \hline 50,939 \\ \hline$5,322 \\ \hline \hline \end{tabular} a) Calculate the city of Tallahassee's quick ratio. Round to one decimal b) Using the rule of thumb suggested in the text, would the level of the quick ratio be considered reasonable, too high, or too low