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CengageNOWv2 | Onli X MindTap - Cengage Le X Course Hero X G how to screenshot on X + X F C v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssign... @ . . . HotSchedules - Onli... OneLogin Outlook BC - Student Home.. 0.0 Duolingo - The work. Cengage Ch 11-3 Exercises and Problems 7 eBook Calculator Print Item 1. EX.11-05.BLANKSHEET.AL... Quick Ratio 2. EX.11-06.ALGO Gmeiner Co. had the following current assets and liabilities on December 31 of two recent years: Current Year Previous Year 3. EX.11-10.ALGO Current assets: Cash $912,000 $1,212,000 4. EX.11-11.ALGO Accounts receivable 808,000 570,000 5. EX.11-13.BLANKSHEET.AL... Inventory 499,000 481,000 Total current assets $2,219,000 $2,263,000 6. EX.11-20.ALGO Current liabilities: 7. EX.11-23.ALGO Current portion of long-term debt $138,000 $122,000 Accounts payable 275,000 243,000 Accrued and other current liabilities 447,000 445,000 Total current liabilities 860,000 $810,000 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? Progress: 7/7 items Check My Work 2 more Check My Work uses remaining. Previous Assignment Score: 25.79% All work saved. Email Instructor Save and Exit Submit Assignment for Grading 9 ? 3 1 1:05