Lloyd Inc. has sales of $400,000, a net income of $48,000, and the following balance sheet: Cash $39,680 Accounts payable $$1,200 Receivables 97,280 Notes payable to bank 51,200 Inventories 294,400 Total current liabilities $102,400 Total current assets $431,360 Long-term debt 111,360 Net fixed assets 208,640 Common equity 426,240 Total assets $640,000 Total liabilities and equity $640,000 The new owner thinks that inventories are excessive and can be lowered to the point where the current ratio is equal to the industry average 2.25, without affecting sales or net Income. If inventories are sold and not replaced (thus reducing the current ratio to 2.25);if the funds generated are used to reduce common equity (stock can be repurchased at book value); and if no other changes occur, by how much will the ROE change? Do not found intermediate calculations, Round your answer to two decimal places 96 What will be the firm's new quick ratio? Do not round intermediate calculations. Round your answer to two decimal places