1.

2.

Gmeiner Co. had the following current assets and liabilities on December 31 of two recent years Current Year Previous Year Current assets Cash Accounts receivable Inventory $816,000 724,000 447,000 $1,987,000 $1,077,000 507,000 428,000 $2,012,000 Total current assets Current liabilities Current portion of long-term debt Accounts payable Accrued and other current liabilities $112,000 224,000 364,000 $700,000 $99,000 198,000 363,000 $660,000 Total current liabilities a. Determine the quick ratio for December 31 of both years. If required, round your answers to one decimal place Quick Ratio Previous year Current year