Liquidity managementBauman Company's total current assets, total current liabilities, and inventory for each of the past 4 years follow:

Item	2012	2013	2014	2015
Total current assets	$17,370	$21,850	$22,930	$26,290
Total current liabilities	8,880	12,140	13,250	17,480
Inventory	5,770	6,870	7,690	7,110

a. Calculate the firm's current and quick ratios for each year. Compare the resulting time series for these measures of liquidity.

b. Comment on the firm's liquidity over the 2012-2015 period.

c. If you were told that Bauman Company's inventory turnover for each year in the 2012-2015 period and the industry averages were as follows, would this information support or conflict with your evaluation in part

(b).Why?

Item	2012	2013	2014	2015
Bauman Company	6.3	6.8	7.0	6.4
Industry Average	11.3	11.9	11.5	11.7

ROUND ALL ANSWERS TWO DECIMAL PLACES