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Compute the quick ratio on December of both years

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Problem - Nabors Company reported the following current assets and liabilities for December 31 for two recent years:

 

Dec. 31, Current Year

Dec. 31, Previous Year

Cash

$650

$680

Temporary investment

1,500

1,550

Accounts receivable

700

770

Inventory

1,250

1,400

Accounts payable

2,375

2,000

Required -

a. Compute the quick ratio on December 31 of both years.

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

Reference no: EM132795054

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