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 $560,000 $590,000 Accounts receivable 496,000 278,000 Inventory 306,000 234,000 Total current assets $1,362,000 $1,102,000 Current liabilities: Current portion of long-term debt $106,000 $93,000 Accounts payable 211,000 186,000 Accrued and other current liabilities 343,000 341,000 Total current liabilities $660,000 $620,000 a. Determine the quick ratio for December 31 of both years. If required, round your answers to one decimal place. Quick Ratic Previous year: Current year: b. How did the quick ratio change between the two balance sheet dates? Calculate Payroll Breakin Away Company has three employees a consultant, a computer programmer, and an administrator. The following payroll information is available for each employee: Consultant Computer Programmer Administrator Regular earnings rate $3,210 per week $32 per hour $44 per hour Overtime earnings rate Not applicable 1.5 times hourly rate 2 times hourly rate Number of withholding allowances 3 2 1 For the current pay period, the computer programmer worked 60 hours and the administrator worked 50 hours. The federal income tax withheld for all three employees, who are single, can be determined by adding $356.90 to 28% of the difference between the employee's amount subject to withholding and $1,796.00. Assume further that the social security tax rate was 6%, the Medicare tax rate was 1.5%, and one withholding allowance is $70. Determine the gross pay and the net pay for each of the three employees for the current pay period. Assume the normal working hours in a week are 40 hours. If required, round your answers to two decimal places. Consultant Computer Programmer Administrator Gross pay Net pay