Shown below are selected items appearing in a recent statement of financial position (balance sheet) of Grant Products. (Dollar amounts are in thousands.) $ 620 $ 300 $1,400 $ 1,100 Prepaid expense and other current assets $ 450 Plant and equipment $ 3,300 Accounts payable Bank loans payable within one year Income taxes payable Retained earnings Required: Cash and cash equivalents Investments in marketable securities Receivables Inventories $1,600 $ 300 $300 $ 1,700 (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.