Business, 24.09.2020 19:01, haileysolis5
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 $660 $920
Temporary investments 1,440 2,050
Accounts receivable 3,300 1,400
Inventory 1,080 1,040
Accounts payable 3,000 2,300
Required:
A. Compute the quick ratio on December 31 of both years.
B. Is the quick ratio improving or declining?
Answers: 2
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