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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
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 | $650 | $680 | ||
Temporary investments | 1,500 | 1,550 | ||
Accounts receivable | 700 | 770 | ||
Inventory | 1,250 | 1,400 | ||
Accounts payable | 2,375 | 2,000 |
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 |
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