Quick Ratio Calculate the quick ratio for Los Altos, Inc, for both years, using the financial statements displayed below. Round to nearest hundredth 2020 2019 Quick Ratio Did the company's ability to pay its current liabilitles improve over the two years? . Los Altos, Inc. Income Statement For Years Ended December 31, 2020 and 2019 (in millions) 2020 2019 Net sales $12.000 $11,000 Cost of goods sold 5050 5720 Gross profit 5,050 5.680 Selling and administrative expenses 3.000 2.970 Income from operation 7,170 2,710 Interest expense Income before income taxes 2.540 income taxe 40 440 No. SOS Balance Sheet December 31, 2020 and 2019 (in millions) Assets 2020 2019 Current assets Cash and cash equivalents $220 $440 Accounts receivable 990 880 Inventory 550 715 Other current assets 440 275 Total current assets 2,200 2,310 Property, plant, & equipment (net) 2,860 2,750 Other assets 6,270 6,490 Total assets $11,330 $11,550 Liabilities and Stockholders' Equity Current liabilities $4,200 $4,060 Long-term liabilities 7,000 7,560 Total liabilities 11,200 11,620 Stockholders' equity - common 130 (70) Total Liabilities and Stockholders' Equity $11,330 $11,550