Originally Posted by
opethmike
It can happen pretty easily. If the test is done cold, compression will measure much lower. If the throttle isn't held open during testing, compression will measure much lower.
Since all four cylinders read basically the same low number, one of those two conditions is likely.
Replacing piston rings is a hell of a job, and NOT advised for the inexperienced. If something is actually wrong enough with the engine to require rebuild, on a common car like this it is cheaper to just put a replacement used engine in. A rebuild takes a long time, so the labor costs skyrocket pretty quickly.
Taking a quick look at eBay, used motors for your car are not expensive at all.