Quick Ratio Gmeiner Co. had the following current assets and liabilities on December 31 of two recent years: Current assets: Cash Accounts receivable Inventory Current Year Previous Year $597,000 $657,000 530,000 309,000 327,000 261,000 $1,454,000 $1,227,000 Total current assets Current liabilities: Current portion of long-term debt $78,000 $69,000 Accounts payable 157,000 138,000 Accrued and other current liabilities 255,000 253,000 Total current liabilities $490,000 $460,000 a. Determine the quick ratio for December 31 of both years. If required, round your answers to one decimal place. Previous year: Quick Ratio Current year: b. How did the quick ratio change between the two balance sheet dates?