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Compute the quick ratio for December

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Problem - Quick ratio - Grangel Company reported the following current assets and liabilities for December 31, 2012 and 2011:

 

Dec. 31, 2012

Dec. 31, 2012

Cash

$ 620

$ 560

Temporary investments

1,330

1,250

Accounts receivable

850

830

Inventory

1,000

1,000

Accounts payable

2,800

2,200

Required -

a. Compute the quick ratio for December 31, 2012 and 2011.

b. Interpret the company's quick ratio. Is the quick ratio improving or declining?

Reference no: EM132877949

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