Quick Ratio The current assets and current liabilities for Violet Inc. and Magenta, Inc., are as follows at the end of a recent fiscal period: Violet Inc. Magenta, Inc. (in millions) (in millions) Current assets: Cash and cash equivalents $8,021 $15,249 Short-term investments 5,180 0 Accounts receivable 3,510 11,043 Inventories 334 1,052 Other current assets* 1,838 4,470 Total current assets $18,883 $31,814 Current liabilities: Accounts payable $5,210 $11,080 Accrued and other current liabilities 4,620 7,700 Total current liabilities $9,830 $18,780 *These represent prepaid expense and other nonquick current assets. a. Determine the quick ratio for both companies. If required, round your answers to one decimal place. Quick Ratio Violet Inc.: Magenta, Inc