Print Item Calculator eBook Quick Ratio Gmeiner Co. had the following current assets and liabilities on December 31 of two recent years. Current Year Previous Year Current assets: Cash $500,000 444,000 274,000 $1,218,000 $673,000 317,000 267,000 $1,257,000 Accounts receivable Inventory Total current assets Current liabilities: $83,000 $94,000 Current portion of long-term debt 189,000 165,000 Accounts payable 307,000 302,000 Accrued and other current liabilities $590,000 $550,000 Total current liabilities 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