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Balance Sheet December 31s (Millions of dollars) Scramouche Fitcom Scramouche Opera Company Fitcom OperaCorporation Company Corporation Assets Current assets Liabilities Current liabilities Cash Accounts receivable Inventories $3,157 $2,029 Accounts payable $0 1,155 3,388 7,700 743 Accruals 2,178 Notes payable 4,950 Total current liabilities 696 3,944 Total current assets Net fixed assets Net plant and equipment 3,712 4,538 8,250 Long-term bonds 5,672 6,050 6,050 Total debt 10,312 Common equity 2,235 1,203 3,438 13,750 Common stock 1,788 Retained eamings Total common equity Total liabilities and equity 2,750 Total assets 13,750 11,000 11,000 Fitcom Corporation's quick ratio is and its current ratio is : Scramouche Opera Company's quick ratio is and its current ratio is Which of the following statements are true? Check all that apply Fitcom Corporation has less liquidity but also a greater reliance on outside cash flow to finance its short-term obligations than Scramouche Opera Company A current ratio of 1 indicates that the book value of the company's current assets is equal to the book value of its current liabilities. If a company has a quick ratio of less than 1 but a current ratio of more than 1 and if the difference between the two ratios is large, then the company depends heavily on the sale of its inventory to meet its short-term obligations. Fitcom Corporation has a better ability to meet its short-term liabilities than Scramouche Opera Company An increase in the current ratio over time ahways means that the company's liquidity position is improving

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