Quick ratio Gmeiner Co. had the following current assets and liabilities on December 31 of two recent years: Current assets: Cash Accounts receivable Inventory Total current assets Current liabilities: Current portion of long-term debt Accounts payable Accrued and other current liabilities Total current liabilities Current Year $748,000 323,000 769,000 $1,840,000 $158,000 189,000 283,000 $630,000 Previous Year $463,000 185,000 324,000 $972,000 $119,000 162,000 259,000 $540,000 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below.

Gmeiner Co. had the following current assets and liablities on December 31 of two recent years: This information has been collected in the Microsoft Excel Online fie. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. a. Determine the quick ratio for December 31 of both years. If required, round your answers to one decimal pla b. How did the quick ratio change between the two balance sheet dates