PE 11-8B Quick ratio
Tappert Company reported the following current assets and liabilities for December 31, 2012 and 2011:
| Dec. 31, 2012 | Dec. 31, 2011 | |
| Cash | $ 990 | $ 860 |
| Temporary investments | 1,910 | 1,500 |
| Accounts receivable | 1,600 | 1,280 |
| Inventory | 2,000 | 1,400 |
| Accounts payable | 3,000 | 2,800 |
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?
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