EX 11-22 Quick ratio
CCB Co. had the following current assets and liabilities for two comparative years:
| Dec. 31, 2012 | Dec. 31, 2011 | |
| Current assets: | ||
| Cash | $ 506,000 | $ 524,000 |
| Accounts receivable | 354,000 | 364,000 |
| Inventory | 240,000 | 200,000 |
| Total current assets | $1,100,000 | $1,088,000 |
| Current liabilities: | ||
| Current portion of long-term debt | $ 160,000 | $ 120,000 |
| Accounts payable | 265,000 | 220,000 |
| Accrued and other current liabilities | 435,000 | 400,000 |
| Total current liabilities | $ 860,000 | $ 740,000 |
a. Determine the quick ratio for December 31, 2012 and 2011.
b. Interpret the change in the quick ratio between the two balance sheet dates.
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