Company ABC has the following balances at the end of the year: Assets: Cash $10,000, Machinery $50,000, Inventory $7,500, Equipment $60,000, Prepaid expense $2,500 and, accounts receivables $5,500. Liabilities: Accounts payable $4,000, wages payable $2,000, Equity $50,000. Determine the Current ratio and Quick ratio of company ABC. Answer choices: a. Current ratio is 4.25 times and Quick ratio is 3 times. b. Current ratio is 6.375 times and Quick ratio is 3.875 times. c. Current