Quick Ratio

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

				Current Year		Previous Year
Current assets:
	Cash			$530,000		$799,000
	Accounts receivable			470,000		376,000
	Inventory			290,000		317,000
		Total current assets		$1,290,000		$1,492,000
Current liabilities:
	Current portion of long-term debt			$80,000		$71,000
	Accounts payable			160,000		141,000
	Accrued and other current liabilities			260,000		258,000
		Total current liabilities		$500,000		$470,000

a. Determine the quick ratio for December 31 of both years. If required, round your answers to one decimal place.

	Quick Ratio
Previous year:
Current year:

b. How did the quick ratio change between the two balance sheet dates?