To follow are the balance sheets for Colvin Corporation and selected comparative competitor data. (Cick the icon to view the assets section of the balance sheet.) (Click the icon to view the Labilities and stockholders' equify sections of the balance sheet) (Click the icon to view the quick (acid-test) ratios of other companies.) Read the tequirements. 1. Calculate Colvin's quick (acid-test) ratio at December 31, 2021, and 2020 . Select the formula and then enter the amounts to calculate the acid-test ratio. (Abbreviation used ST w short term Cash" = Cash and cash equivalenta Net receivablest+ = Net current receivables. Enter the amounte in milions as provided to you in the problem. Round the ratios to for decimal places, x.X.) Data table Data table Data table Data table Data table Data table Requirements Use the data to answer the following questions. 1. Calculate Colvin's quick (acid-test) ratio at December 31,2021 , and 2020. 2. Use the comparative information from the table given for Karl, Inc., Lavallee Company, and Farmer Foods Corporation. Is Colvin's quick (acid-test) ratio for 2021 and 2020 strong, average, or weak in comparison