Quick Ratio

EVANS and Sons, Inc. Income Statement
(in millions)	2019	2018
Net sales	$9,800	$9,300
Cost of goods sold	(5,500)	(5,200)
Gross profit	4,300	4,100
Selling and administrative expenses	(2,800)	(2,700)
Income from operations	1,500	1,400
Interest expense	(300)	(250)
Income before income taxes	1,200	1,150
Income tax expense	(220)	(200)
Net income	$980	$950

EVANS and Sons, Inc. Balance Sheet
(in millions)	2019	2018
Assets
Current assets
Cash and cash equivalents	$100	$300
Accounts receivable	900	800
Inventory	500	650
Other current assets	400	250
Total current assets	1,900	2,000
Property, plant & equipment, net	2,600	2,500
Other assets	5,700	5,900
Total Assets	$10,200	$10,400
Liabilities and Stockholders' Equity
Current liabilities	$3,000	$2,900
Long-term liabilities	5,000	5,400
Total liabilities	8,000	8,300
Stockholders' equity-common	2,200	2,100
Total Liabilities and Stockholders' Equity	$10,200	$10,400

Calculate the quick ratio for Evans & Sons, Inc., for 2018 and 2019. Round answers to two decimal places.

2018	Answer
2019	Answer