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. (in millions) Magenta, Inc. (in millions) Current assets: $7,114 $21,889 Cash and cash equivalents Short-term investments 0 4,594 3,112 Accounts receivable 15,851 Inventories 296 1,510 Other current assets* 1,630 6,416 Total current assets $ 16,746 $45,666 Current liabilities: Accounts payable $11,133 $5,236 4,644 Accrued and other current liabilities 7,737 Total current liabilities $9,880 $18,870 *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.: b. Which company has a stronger relative cash and short-term investment position