Measures of Solvency and Credit Risk

Measures of solvency and credit risk
Shown below are selected items appearing in a recent balance sheet of Grant Products.(Dollar amounts are in thousands.) (a)Compute the following:
(1)Total quick assets $____________
(2)Total current assets $____________
(3)Total current liabilities $____________
(4)Quick ratio ______ to 1
(5)Current ratio ______ to 1
(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.

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(a) (b)Grant Products' current ratio an...

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