PE 11-8A. Quick ratio Obj. 6 Example Exercise 11-8 FAI Me Show How Nabors Company re- ported the following cur- rent assets and liabilities for December 31 for two re- cent years: Dec. 31. Current Year $650 1.500 Cash Temporary investments Accounts receivable Inventory Accounts payable Dec 31, Previous Year 5.680 1.550 770 1400 2.000 1.250 2.375 Compute the quick ratio on December 31 of both years. Interpret the company's quick ratio. Is the quick ratio improving or declining