Gmeiner Co. had the following current assets and liabilities for two comparative years:

a. Determine the quick ratio for December 31, 2014 and 2013.
b. Interpret the change in the quick ratio between the two balance sheetdates.

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Dec. 31, 2014 Dec. 31, 2013 Current assets: Cash Accounts receivable Inventory 5 486,000 210,000 375,000 $1,071,000 500,000 200,000 350,0 Total current assets $1,050,000 Current liabilities: Current portion of long-term debt Accounts payable Accrued and other current liabilities 145,000 175,000 260,000 $ 580.000 110,000 150,000 240,000 S 500000 Total current liabilities