EX 10-22 Quick ratio OBJ. 6 years: Current Year Previous Year Current assets: Cash Accounts receivable Inventory 500,000 200,000 350,000 $ 486,000 210,000 375,000 $1071000$1050000 Total current assets Current liabilities: Current portion of long-term debt Accounts payable Accrued and other current liabilities 145,000 175,000 260,000 5 580,000 110,000 150,000 240,000 $ 500,000 Total current liabilities a. Determine the quick ratio for December 31 of both years