Quick Ratio Nabors Company reported the following current assets and liabilities for December 31 for two recent years: Dec. 31, Current Year Dec. 31, Previous Year Cash $1,390 $1,340 Temporary investments 2,990 Accounts receivable 3,020 3,150 2,270 2,040 2,210 Inventory Accounts payable 6,300 4,900 Required: 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 b. Is the quick ratio improving or declining? Estimated Warranty Liability Oven Roasted Co. sold $202,000 of equipment during January under a two-year warranty. The cost to repair defects under the warranty is estimated at 5% of the sales price. On August 15, a customer required a $347 part replacement, plus $226 of labor under the warranty. Required: (a) Provide the journal entry for the estimated warranty expense on January 31 for January sales. Jan. 31 (b) Provide the journal entry for the August 15 warranty work. If an amount box does not require an entry, leave it blank. Aug. 15 Federal Income Tax Withholding Bob Dunn's weekly gross earnings for the present week were $2,220. Dunn has two exemptions. Using the wage bracket withholding table in Exhibit 2 with a $75 standard withholding allowance for each exemption, what is Dunn's federal income tax withholding? Round your answer to two decimal places. $ 45,751 x