Potash Corporation of Saskatchewan is the world's largest fertilizer company, producing the three primary crop nutrients: potash, phosphate, and nitrogen. Pot.ash Corp. is a major player in meeting the growing challenge of feeding the world, and has operations and business interests in seven countries. Selected financial statement information for this company over the most recent four-year period is shown below (in millions of U.S. dollars):

Required

1. Compute the quick ratio for each of the four years, and comment on the four-year trend of the ratio.2. Compute the trade payables turnover ratio and the average age of payables for the years 2012-2015. Did the company improve on its management of trade payables? Explain.

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2014 2013 2015 2012 Quick assets Current liabilities $1,244 $1,380 $1,651 731 1,747 2,113 1,854 2,198 Cost of sales Trade payables 3,522 3,859 3,943 4,023 426 457 450 623