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Gmeiner Co . had the following current assets and liabilities on December 3 1 of two recent years: Current Year Previous Year Current assets: Cash

Gmeiner Co. had the following current assets and liabilities on December 31 of two recent years:
Current Year Previous Year
Current assets:
Cash $611,000 $555,000
Accounts receivable 541,000261,000
Inventory 334,000220,000
Total current assets $1,486,000 $1,036,000
Current liabilities:
Current portion of long-term debt $115,000 $102,000
Accounts payable 230,000204,000
Accrued and other current liabilities 375,000374,000
Total current liabilities $720,000 $680,000
a. Determine the quick ratio for December 31 of both years. If required, round your answers to one decimal place.
Quick Ratio
Previous year: fill in the blank 1
Current year: fill in the blank 2
b. How did the quick ratio change between the two balance sheet dates?

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