Venice InLine, Inc. was founded by Russ Perez to produce a specialized in-line skate he had designed for doing aerial tricks.Venice InLine had large stocks of unfinished skates at the end of the year and was unable to fill all of the orders that had come in from retailers for the Christmas season. Consequently, sales were below expectations for the year, and Russ does not have enough cash to pay his creditors. Well before the accounts payable were due, Russ visited a local bank and inquired about obtaining a loan. The loan officer at the bank assured Russ that there should not be any problem getting a loan to pay off his accounts payable - providing that on his most recent financial statements the current ratio was about 2.0, the acid-test ratio was above 1.0, and net operating income was at least four times the interest on the proposed loan. Russ would like to apply for an $80,000 six-month loan bearing an interest rate of 10% per year. Would the company qualify for the loan?