Liquidity management Bauman Company's total current assets, total current liabilities, and inventory for each of the past 4 years follow: Item Total current assets Total current liabilities Inventory 2016 $17,240 8,920 5.560 2017 $21,930 13,020 2.010 2018 $22,220 13,140 7.750 2019 $26,380 17,250 7,250 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 2016-2019 period. c. If you were told that Bauman Company's inventory turnover for each year in the 2016-2019 period and the industry averages were as follows, would this information support or conflict with your evaluation in part (b).? Why? Item 2016 2017 2018 2019 6.9 Bauman Company Industry Average 6.4 11.1 7.1 11.3 6.5 11.5 11.7