Algonquin Corporation reported the following items at December $31,2021,$ and $2020$:

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Read the requirements.

Requirement $1.$ Compute the company's $($a$)$ quick $($acid$-$test$)$ ratio and $($b$)$ days' sales outstanding for $2021.$ Evaluate each ratio value as strong or weak. All sales are on account with terms of net $30$ days.

$($a$)$ Enter the formula and calculate the quick $($acid$-$test$)$ ratio for $2021.($Abbreviation used: Cash$*=$ Cash and cash equivalents. Round your final answer to two decimal places.$)$