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			$922,000		$892,000
	Accounts receivable			818,000		420,000
	Inventory			505,000		354,000
		Total current assets		$2,245,000		$1,666,000
Current liabilities:
	Current portion of long-term debt			$139,000		$123,000
	Accounts payable			278,000		246,000
	Accrued and other current liabilities			453,000		451,000
		Total current liabilities		$870,000		$820,000

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?