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Austin Technology Co. had the following current assets and liabilities for two comparative years: Current Year Previous Year Current assets: Cash $596,000 $966,000 Accounts receivable

Austin Technology Co. had the following current assets and liabilities for two comparative years:

Current Year Previous Year
Current assets:
Cash $596,000 $966,000
Accounts receivable 529,000 454,000
Inventory 326,000 383,000
Total current assets $1,451,000 $1,803,000
Current liabilities:
Current portion of long-term debt $120,000 $107,000
Accounts payable 240,000 213,000
Accrued and other current liabilities 390,000 390,000
Total current liabilities $750,000 $710,000

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:

b. How did the quick ratio change between the two balance sheet dates?

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