Crane Corporation recently filed the following financial statements with the SEC. Crane Corporation Income Statement for the Fis
cal Year Ended July 31, 2017 Net sales $71,771 Cost of products sold 51,050 Gross profit $20,721 Selling, general, and administrative expenses 9,146 Depreciation 1,039 Operating income (loss) $10,536 Interest expense 636 Earnings (loss) before income taxes $9,900 Income taxes 3,465 Net earnings (loss) $6,435 Crane Corporation Balance Sheet as of July 31, 2017 Assets Liabilities and Stockholders’ Equity Cash and marketable securities $13,859 Accounts payable $9,696 Accounts receivable 7,687 Accrued and other liabilities 8,608 Inventory 8,720 Taxes payable 7,328 Deferred income taxes 860 Debt due within one year 16,383 Prepaid expenses & other receivables 2,747 Total current liabilities $42,015 Total current assets $33,873 Property, plant, and equipment, at cost 61,218 Long-term debt 23,790 Less: Accumulated depreciation 21,752 Deferred income taxes 6,765 Net property, plant, and equipment $39,466 Other non-current liabilities 5,496 Net goodwill and other intangible assets 15,940 Total liabilities $78,066 Common stock 3,594 Retained earnings 7,619 Total stockholders’ equity 11,213 Total assets $89,279 Total liabilities and stockholders’ equity $89,279 What are the company’s current ratio and quick ratio?
