Homework Answers
Answer:
| 1. Account payable is current liability and temporary investments are marketable securities. |
| December 31, Current year: |
| Quick ratio = (Cash + Marketable securities + Receivables )/ Current Liabilities |
| = (810 + 1780 + 4070) / 3700 = 1.80 |
| December 31, Previous year: |
| Quick ratio = (Cash + Marketable securities + Receivables) / Current Liabilities |
| = 1040 + 2320 + 1570 / 2900 = 1.70 |
| 2.Quick ratio is Improving. |
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