You are given the following data for Company A and the industry average. Assess Company As liquidity over time and relaive to the industry.

2020 2021

Company A

Current Ratio

1.5x

1.4x

Quick Ratio

1.1x

0.7x

Avg. Days Sales Out.

98.2

86.1

Avg. Days Inventory Out.

54.3

79.6

Avg. Days Payable Out.

54.9

141.1

Avg. Cash Conversion Cycle

97.6

24.6

Industry Average

Current Ratio

1.4x

1.3x

Quick Ratio

1.2x

1.1x

Avg. Days Sales Out.

65.5

83.7

Avg. Days Inventory Out.

20.6

19.5

Avg. Days Payable Out.

5.3

13.3

Avg. Cash Conversion Cycle