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 Temporary investments Accounts receivable Inventory Accounts payable a. Compute the quick ratio on December 31 of both years. If required, round your answers to one decimal place $790 1,730 1,440 1,300 3,600 $590 1,320 890 1,260 2,800 Quick Ratio December 31, current year December 31, previous year b. Is the quick ratio improving or declining