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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 of two recent years:
Current Year Previous Year
Current assets:
Cash $ $
Accounts receivable
Inventory
Total current assets $ $
Current liabilities:
Current portion of longterm debt $ $
Accounts payable
Accrued and other current liabilities
Total current liabilities $ $
a Determine the quick ratio for December of both years. If required, round your answers to one decimal place.
Quick Ratio
Previous year: fill in the blank
Current year: fill in the blank
b How did the quick ratio change between the two balance sheet dates?
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