Quick Ratio

Grangel Company reported the following current assets and liabilities for December 31 for two recent years:

	Dec. 31, Current Year		Dec. 31, Previous Year
Cash	$1,320		$1,280
Temporary investments	2,880		2,870
Accounts receivable	4,200		1,960
Inventory	2,160		2,120
Accounts payable	6,000		4,700

a. Compute the quick ratio on December 31 of both years. If required, round your answers to one decimal place.

	Quick Ratio
December 31, current year
December 31, previous year