Shown below are selected items appearing in a recent statement of financial position (balance sheet) of...

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Shown below are selected items appearing in a recent statement of financial position (balance sheet) of Grant Products. (Dollar amounts are in thousands.) Cash and cash equivalents $ 620 Investments in marketable securities $ 300 Receivables $1,400 Inventories $1,100 Prepaid expense and other current assets $ 450 Plant and equipment $3,300 Accounts payable $1,600 Bank loans payable within one year $ 300 Income taxes payable $ 300 Retained earnings $ 1,700 Required: (A) Compute the following: (Round ratios to two decimal points.) (1) Total quick assets (2) Total current assets (3) Total current liabilities (4) Quick ratio (5) Current ratio (B) Research indicates an industry average quick ratio is 1.3 to 1, and a current ratio of 2.3 to 1. Based upon this information, does Grant Products appear more or less solvent than the average company in its industry? Explain briefly. Shown below are selected items appearing in a recent statement of financial position (balance sheet) of Grant Products. (Dollar amounts are in thousands.) Cash and cash equivalents $ 620 Investments in marketable securities $ 300 Receivables $1,400 Inventories $1,100 Prepaid expense and other current assets $ 450 Plant and equipment $3,300 Accounts payable $1,600 Bank loans payable within one year $ 300 Income taxes payable $ 300 Retained earnings $ 1,700 Required: (A) Compute the following: (Round ratios to two decimal points.) (1) Total quick assets (2) Total current assets (3) Total current liabilities (4) Quick ratio (5) Current ratio (B) Research indicates an industry average quick ratio is 1.3 to 1, and a current ratio of 2.3 to 1. Based upon this information, does Grant Products appear more or less solvent than the average company in its industry? Explain briefly.