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Compute the quick ratio on December for each year

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Reference no: EM132754098

Problem - Nabors Company reported the following current assets and current liabilities for two recent years:

Dec. 31, 20Y8

Dec. 31, 20Y7

Cash

$  650

$  680

Temporary investments

1,500

1,550

Accounts receivable

700

770

Inventory

1,250

1,400

Accounts payable

2,375

2,000

Required -

1. Compute the quick ratio on December 31 for each year. Round to one decimal place.

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

Reference no: EM132754098

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