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Interpret the companys quick ratio

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Reference no: EM13533256

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

Dec. 31, 2012

Dec. 31, 2011

Cash

$ 620

$ 560

Temporary investments

1,330

1,250

Accounts receivable

850

830

Inventory

1,000

1,000

Accounts payable

2,800

2,200

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: EM13533256

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