Total currerit assel3 D 10, J50 D 21,JU0 D D Z1,300 Total current liabilities 9,000 12,600 12.600 17,400 Inventory 6,000 6,900 6,900 7,200 Answer the following questions: a. Calculate the firm's current and quick ratios for each year. Compare the resulting time series for these measures of liquidity. What is the trend of these ratios for the 4-year period? Are they increasing or decreasing? Why? b. Comment on the firm's liquidity over the 2000-2003 period. Was the firm's liquidity improving or deteriorating? Why? c. If you were told that Bauman Company's inventory turnover for each year in 2000-2003 period and the industry averages were as follows, would this information support or conflict with your evaluation in part b? Why? Inventory turnover 2000 2001 2002 2003 Bauman Company 6.3 6.8 7.0 6.4 Industry average 10.6 11.2 10.8 11.0