· Period 1 Balance Sheet (Dec 31, 2022):

• Current Assets: $150,000
• Current Liabilities: $80,000

· Period 2 Balance Sheet (Dec 31, 2023):

• Current Assets: $180,000
• Current Liabilities: $100,000

·Calculate Quick Ratio: Requirements:

• Given a balance sheet with specific figures for current assets, excluding inventory, and current liabilities, calculate the quick ratio.
• Express the quick ratio as a numerical value (quick assets divided by current liabilities).
• Discuss the significance of the quick ratio in assessing a company's short-term liquidity position.