Use the Evan, Inc. balance sheet data below. (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 Horner Companies Limited Is Evan's quick (acid-test) ratio for 2020 and 2019 strong aw 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 millio 2020 Acid-test ratio 2019 2. Use the comparative information for Farmer Inc.. Gagnon Company, and Horner Companies Limited. Is Evan's quick (acid-test) ratio for 2020 and 2019 strong averag Evan's acld-test ratio looks both because it is and because it is than the acid-test ratio of the other three companies ut Balance sheets: assets (dollar amounts in millions) Assets Evan, Inc. Balance Sheets (Adapted) As at December 31, 2020, and 2019 - X we Increase (Decrease) 2020 2019 Amount Percentage d th Current assets Cash and cash equivalents $ 1,202 $ 902 S 300 33.3 % Short-term investments 2 82 (80) (97.6) Receivables, net Inventories Prepaid expenses and other assets Total current assets 244 254 (10) (3.9) teak in 92 82 10 12.2 274 394 (120) (30.5) 1,814 1,714 100 5.8 Print Done g 4 of 11 (5 complete) Balance sheets: liabilities and equity X Ge weak in com 2020 2019 Amount Increase (Decrease) Percentage d the ratio (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 Omer Total current abilities Long-term debt mput 984 5 886 5 98 111% 48 80 (32) (400) 122 116 6 52 eak in compar 72 74 (2) (27) 1.226 1.156 70 61 3466 2954 512 373 Print Done 40 4 144 + pit se Othe 20, acid-test ratios of other companies any, 20, an Company id-tes Farmer, Inc. (Utility) mpany. Gagnon Company (Department store) Horner Companies Limited (Grocery store) Print Done - X g, average Quick (Acid-Test) Ratio 0.71 millions. Rc 1.01 1.05 average, or