RST Company provided the following balance sheet information:

• Cash: $20,000
• Accounts Receivable: $50,000
• Inventory: $30,000
• Total Current Assets: $100,000
• Total Fixed Assets: $200,000
• Total Assets: $300,000
• Total Current Liabilities: $40,000
• Total Long-term Debt: $100,000
• Total Liabilities: $140,000
• Equity: $160,000

Requirements:

1. Calculate the current ratio.
2. Calculate the quick ratio.
3. Compute the debt to equity ratio.
4. Assess the company’s solvency position.
5. Compare the liquidity ratios to industry standards, assuming the industry average current ratio is 2.0 and the quick ratio is 1.5.