Lloyd Inc. has tales of $200,000, a net income of $20,000, and the folowing balance sheet Cath $44,160 Receivables 63,480 Notes payable to bank Inventores 566,240 Total current assets 38,320 553,820 Accounts payable 22,080 161,000 Total current liabilities 5278,300 Long term debt Nated assets 181,700 Common equity 5460,000 Total abilities and equity The new owne thinks that inventories are excessive and can be lowered to the point where the current ratio is equal to the industry average, 2, without affecting sales or net income. It inventories sold and not replaced (Uhus reducing the current ratio to 2001 if the funds ornerated are used to reduce common equity (stock can be repurchased at book value); and if no other changes occur, by much wit the ROC change? Do not round Intermediates Calculations. Round your answer to two decimal places 305,440 Total assets 3460,000 What will be the firm's new quick ratio? Do not round Intermediate calculations. Round your answer to two decimal places