Calculate the Quick Ratio and the Times Interest Earned Ratio

Calculate the Quick ratio and the times interest earned ratio for the following company.
\begin{array}{c}\text { Gil's Fish and Tackle, Inc.}\\\text { Balance Sheet}\\\text { At December 31, 2007}\\\begin{array}{lr}\text { Assets }\\\text { Cash } & \$ 22,200 \\\text { Accounts Receivable (less allowance) } & 169,100 \\\text { Inventories } & 68,300 \\\text { Property, Plant, and Equipment } & 102,800 \\\text { Long-term Investments } & 30,000 \\\text { Total Assets } & \$ 392,400\\\\\text { Liabilities }\\\text { Accounts Payable } & \$ 49,200 \\\text { Current Portion of Long-Term Debt } & 68,800 \\\text { Bonds Payable } & 100,000 \\\\\text {Total Liabilities}&\underline{218,000}\\\\\text { Shareholders' Equity }\\\text { Contributed Capital } & 100,000 \\\text { Retained Earnings } & 74,400 \\\text { Total Equity } & \underline{174,400} \\\\\text { Total Liabilities and Equity } &\underline{ \$ 392,400}\\end{array}\end{array} $\begin{array}{c}\text {Gil's Fish and Tackle, Inc. }\\\text {Income Statement}\\\text { For the year ended December 31,2007}\\\begin{array}{lr}\text {Operating Revenue}\\\text {Sales Revenue}&\underline{\$2,765,000}\\\text {Operating Revenue}&\underline{2,765,000}\\\text {Operating Expenses}\\\text { Wages Expense } & 1,850,500 \\\text { Operating and Admin. Expenses } & 286,700 \\\text { Amortization Expense } & \underline{335,400} \\\quad \text { Operating Expenses } & \underline{2.472 .600}\\\\\text { Operating Income } & 292,400\\\\\text { Other Expenses } & \\ \text { Interest Expense } &\underline{17.000} \\\\\text { Income Before Income Tax Expense } & \mathbf{2 7 5 , 4 0 0} \\\text { Income Tax Expense } & 103.800 \\& \\\text { Net Income } & \$ 171.600\end{array}\end{array}$