• Target average quick ratio for 2023 was 0.19, a 0% increase from 2022.
• Target average quick ratio for 2022 was 0.19, a 57.78% decline from 2021.
• Target average quick ratio for 2021 was 0.45, a 9.76% decline from 2020.

Quick ratio can be defined as a liquidity ratio that measures a company's ability to pay short-term obligations. It is calculated by subtracting inventory from current assets and dividing by current liabilities.