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 $904,000 Accounts receivable $628,000 556,000 343,000 426,000 Inventory 359,000 Total current assets $1,527,000 $1,689,000 Current liabilities: Current portion of long-term debt Accounts payable Accrued and other current liabilities $118,000 237,000 385,000 $105,000 210,000 385,000 Total current liabilities $740,000 $700,000 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