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Given the following Balance Sheets for Leo Construction in 2021, answer the question 3, 4 and 5. For Quarters Ending Current assets Cash and cash equivalents Account receivables Costs & recog'd earnings in. excess of billings Inventories Notes receivable Prepaid expenses Other current assets Total current assets Noncurrent assets Property, plant, and equipment Less accumulated depreciation Property, plant, and equipment, net Other noncurrent assets Total noncurrent assets Total assets Current liabilities Notes payable and notes of credit Accounts payable Accrued expenses Billings in excess of costs & recog'd earnings Leo Construction Balance Sheet Other current liabilities Total current liabilities Long-term liabilities Total liabilities 3/28/2021 200,492 428,219 32,586 0 12,548 5,621 11,254 690,720 379,287 (56,128) 323,159 178,544 501,703 1,192,423 15,514 348,004 29,733 5,218 25,438 423,907 153,215 577,122 6/30/2021 19,462 401,256 27,463 0 8,794 6,121 8,992 472,088 9/30/2021 12/31/2021 34,516 310,756 30,771 6,782 27,893 410,718 128,110 538,828 16,543 375,984 20,227 0 7,632 5,012 9,112 434,510 379,287 345,248 (112,256) (147,623) 267,031 197,625 173,226 172,110 440,257 369,735 912,345 804,245 40,228 294,557 27,884 9,938 32,198 404,805 109,287 514,092 144,254 330,138 15,234 0 0 4,825 7,225 501,676 345,248 (182,990) 162,258 171,256 333,514 835,190 45,250 246,839 27,914 11,562 35,648 367,213 99,073 466,286
> Total liabilities Net Worth Common stock Retained earnings Total net worth Total liabilities and net worth Question 3 577,122 10,000 605,301 615,301 1,192,423 538,828 10,000 363,517 373,517 912,345 514,092 10,000 280,153 290,153 804,245 466,286 10,000 358,904 368,904 835,190 5 pts What is the average quick ratio for the company in 2021 (keep two decimal places)?