Refer to the preceding balance sheet and income statement for Greenfern Corporation for the fiscal year ended July 31, 2017. What are the company€™s current ratio and quick ratio? What do these ratios tell us about Greenfern?

Greenfern Corporation recently filed the following financial statements with the SEC.

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Greenfern Corporation Income Statement for the Fiscal Year Ended July 31, 2017 $ 73,236 Net sales Cost of products sold Gross profit Selling, general, and administrative expenses Depreciation Operating income (loss) Interest expense Earning (loss) before income taxes 52,092 $ 21,144 9,333 1,060 $ 10,751 649 10,102 Income taxes 3,536 $ 6,566 Net earnings (loss) Greenfern Corporation Balance Sheet as of July 31, 2017 Liabilities and Equity: Accounts payable Accrued and other liabilities Assets: Cash and marketable securities $ 9,118 $ 6,379 5,663 Accounts receivable 7,844 Taxes payable Debt due within one year Inventory 8,900 4,821 Deferred income taxes 878 10,778 Prepaid expenses and other 2,803 Total current liabilities $27,641 $29,543 Total current assets Property, plant, and equipment, 62,467 Long-term debt 24,280 6,903 Deferred income taxes at cost Less: Accumulated depreciation Net property, plant, and 22,196 Other non current liabilities 5,608 Total liabilities Common stock $64,432 $40,271 3,667 equipment Net goodwill and other intangible assets 17,985 16,270 Retained earnings Total stockholders' equity $21,652 Total liabilities and stockholders' Total assets $86,084 $86,084 equity