Use the following information to answer items 1 - 3:

At December 31 a company's records show the following information:

	Cash	$ 10,000
	Accounts Receivable	30,000
	Inventory	80,000
	Prepaid Insurance	6,000
	Long-term Assets	200,000
	Accounts Payable	30,000
	Notes Payable due in 10 months	25,000
	Wages Payable	5,000
	Long-term Liabilities	70,000
	Stockholders' (Owner's) Equity	196,000

1. Solve for the following:

1. Working capital ratio
2. Current ratio
3. Quick ratio