The following data were taken from the balance sheet of Nilo Company at the end of...

   

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The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Current Year Previous Year Current assets: Cash Marketable securities Accounts and notes receivable (net) Inventories Prepaid expenses Total current assets Current liabilities: Accounts and notes payable. (short-term) Accrued liabilities Total current liabilities $480,700 556,600 227,700 689,700 355,300 $2,310,000 $319,000 231,000 $550.000 $403,200 453,600 151,200 497,800 1318,200 $1,824,000 $336,000- 144,000 $480,000 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place. Current Year Previous Year 1. Working capital 2. Current ratio 3. Quick ratio b. The liquidity of Nilo has all from the preceding year to the current year. The working capital, current ratio, and quick ratio have in current assets relative to current liabilities. Most of these changes are the result of an The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Current Year Previous Year Current assets: Cash Marketable securities Accounts and notes receivable (net) Inventories Prepaid expenses Total current assets Current liabilities: Accounts and notes payable. (short-term) Accrued liabilities Total current liabilities $480,700 556,600 227,700 689,700 355,300 $2,310,000 $319,000 231,000 $550.000 $403,200 453,600 151,200 497,800 1318,200 $1,824,000 $336,000- 144,000 $480,000 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place. Current Year Previous Year 1. Working capital 2. Current ratio 3. Quick ratio b. The liquidity of Nilo has all from the preceding year to the current year. The working capital, current ratio, and quick ratio have in current assets relative to current liabilities. Most of these changes are the result of an

Answer rating: 100% (QA)

a For current year Total Current assets 2475000 Total Current liabilities 550000 Working capital Tot... View the full answer