Use the Evan, Inc balance sheet data below i (Click the icon to view the assets section of the balance sheet.) (Click the icon to view the liabilities and shareholders' equity sections of the balance sheet.) (Click the icon to view the acid-test ratios of other companies.) 1. Compute Evan, Inc's quick (acid-test) ratio at December 31, 2020, and 2019 2. Use the comparative information for Farmer Inc., Gagnon Company, and Homer Companies Limited Is Evan's quick (acid-test) ratio for 2020 and 2019 strong, average, or weak in comparison? 1. Compute Evan, Inc.'s quick (acid-test) ratio at December 31, 2020, and 2019 Select the formula, and then enter the amounts to calculate the acid-test ratio (Abbreviations used: Avg. - average, ST-short-term. Enter the amounts in millions. Round the ratio to two decimal place 2020 ( 2019 + + " 37 Add-estratio 2. Use the comparative information for Farmer Inc. Gagnon Company, and Homer Companies Limited Is Evan's quick (acid test) ratio for 2020 and 2019 strong, average, or weak in comparison? Evan's acid-test ratio looks both because it is and because it is than the acid-test ratio of the other three companies Balance sheets: assets (dollar amounts in millions) Evan, Inc. Balance Sheets (Adapted) As at December 31, 2020, and 2019 -X weak Increase (Decrease) 2020 2019 Amount Percentage d the Assets Current assets Cash and cash equivalents Short-term investments S 1,202 $ 902 $ 300 33.3% 2 82 (80) (97.6) Receivables, net 244 254 (10) (3.9) eak Inventories 94 82 12 12 14.6 254 394 Prepaid expenses and other assets (140) (35.5) Total current assets 1,796 1,714 82 4.8 Print Done Balance sheets: liabilities and equity (dollar amounts in millions) Evan, Inc. Balance Sheets (Adapted) As at December 31, 2020, and 2019 Liabilities and Shareholders' Equity Current liabilities: Accounts payable Income tax payable Short-term debt Other Total current liabilities Long-term debt S 30300049 ak -X Increase (Decrease) 2020 2019 Amount Percentage 984 $ 886 $ 98 11.1% 32 80 (48) (60.0) 122 22 116 6 5.2 72 74 (2) (2.7) 1,210 1,156 54 4.7 3,622 3,022 600 19.9 Print Done the u, dilu 2019. any. and Manor Companion Limited to Cuan's quick fasid tooth satin for 300 and 700g, aver- 0, an -tes ny. i acid-test ratios of other companies Company Farmer, Inc. (Utility) Gagnon Company (Department store) Horner Companies Limited (Grocery store) - EX million Quick (Acid-Test) Ratio 0.71 1.01 1.05 aver Print Done