Calculate the quick ratio for Los Altos, Inc., for both years, using the financial statements displayed below. Round to nearest hundredth. 2020 2019 Quick Ratio Did the company's ability to pay its current liabilities improve over the two years? Los Altos, Inc. Income Statement For Years Ended December 31, 2020 and 2019 (in millions) Net sales Cost of goods sold Gross profit Selling and administrative expenses Income from operations Interest expense Income before income taxes Income tax expense Net income Los Altos, Inc. 2020 2019 $22.500 $21,375 12.375 11,700 10,125 9.675 6,300 6,075 3,825 3,600 675 563 2.150 3,037 945 $2,205 $2,137 Los Altos, Inc. Balance Sheet December 31, 2020 and 2019 (in millions) 2020 2019 Assets Current assets Cash and cash equivalents $450 $900 Accounts receivable 2,025 1,800 Inventory 1,125 1,463 Other current assets 900 563 Total current assets 4,500 4,726 Property, plant, & equipment (net) 5,850 5,625 Other assets 12,825 13,275 Total assets $23,175 $23,626 Liabilities and Stockholders' Equity Current liabilities $7,800 $7.540 Long-term liabilities 13,000 14,040 Total liabilities 20,800 21,580 Stockholders' equity - common 2,375 2,046 Total Liabilities and Stockholders' Equity $23,175 $23,626 Los Altos, Inc. Balance Sheet December 31, 2020 and 2019 (in millions) 2020 2019 Assets Current assets Cash and cash equivalents $450 $900 Accounts receivable 2,025 1,800 Inventory 1,125 1,463 Other current assets 900 563 Total current assets 4,500 4,726 Property, plant, & equipment (net) 5,850 5,625 Other assets 12,825 13,275 Total assets $23,175 $23,626 Liabilities and Stockholders' Equity Current liabilities $7,800 $7.540 Long-term liabilities 13,000 14,040 Total liabilities 20,800 21,580 Stockholders' equity - common 2,375 2,046 Total Liabilities and Stockholders' Equity $23,175 $23,626