Gmeiner Co. had the following current assets and liabilites on December 31 of two recent years:

Current Year Previous Year

Current Assets:

Cash 486,000 500,000

Accounts Receivable 210,000 200,000

Inventory 375,000 350,000

Total Current Assets 1,071,000 1,050,000

Current Liabilities:

Current portion of long-term debt 145,000 110,000

Accounts payable 175,000 150,000

Accrued and other current liabilities 260,000 240,000

Total Current Liabilities 580,000 500,000

a. Determine the quick ratio for December 31 of both years.

b. Interpret the change in the quick ratio between the two balance sheet dates.