The current assets and current liabilities for Kolbie Company and Newton Company are as follows: 
*These represent prepaid expenses and other non-quick current assets.(a) Determine the quick ratio for both companies. Round to two decimal places.(b) Interpret the quick ratio difference between the two companies.
Definitions:
Fringe Benefits
Additional benefits offered to employees beside their basic salary, such as health insurance, paid vacations, or retirement plans.
Payroll
The total amount of money that a company pays to its employees, which involves calculating salaries, wages, bonuses, deductions, and net pay.
Human Resources Management (HRM)
The strategic approach to managing a company’s employees, focusing on policies and systems to maximize workforce performance and satisfaction.
Philosophies
Fundamental beliefs or theories that guide actions and decisions, often applying to disciplines like ethics, education, politics, and personal development.
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