Refer to the Zumba Corporation data above. Compute the current ratio: Then compute the quick ratio

.51

1.20

1.98

.98

The balance sheet at December 31, 20X1 for Zumba Corporation (in thousands of dollars) follows:

Current Assets:
Cash and Cash Equivalents	$ 2
Accounts Receivable, net	4,800
Inventories	2,200
Prepaid Rent	898
Total Current Assets	7,900
Land, Buildings and Equipment, net	7,400
Investments	500
Total Assets	$15,800
Current Liabilities:
Accounts Payable	$ 500
Current Portion Long-Term Debt	2,500
Accrued Salaries Payable	1,000
Total Current Liabilities	4,000
Long-Term Debt	8,000
Total Liabilities	12,000
Stockholders' Equity:
Common Stock	2,800
Retained Earnings	1,000
Total Stockholders' Equity	3,800
Total Liabilities and Stockholders' Equity	$15,800

Additional information follows: * Net income for the year ended December 31, 20X1 is $2,020. * Cost of goods sold for the year ended December 31, 20X1 is $4,400. * Accounts Receivable, net on January 1, 20X1 are $4,400. * Total assets on January 1, 2X17 are $20,000. * Net credit sales for the year ended December 31, 20X1 are $14,600.