As of december 31, the stanford company has the following information. use this information to answer questions 1 to 3.
cash $5,000
accounts receivable 15,000
inventory 40,000
prepaid insurance 3000
fixed assets 100,000
accounts payable 15,000
notes payable in 5 months 12,500
salary payable 25,000
notes payable in 5 years 35,000
owner’s equity 98,000
1. what is the company's quick ratio?
2. what is the company's working capital?
3. what is the company's current ratio?