Current Position Analysis 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 $376,200 435,600 178,200 $288,000 324,000 108,000 689,700 439,200 355,300 280,800 $2,035,000 $1,440,000 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 $319,000 $336,000 231,000 144,000 $550,000 $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 improved from the preceding year to the current year. The working capital, current ratio, and quick ratio have all increased Most of these changes are the result of an increase in current assets relative to current liabilities. Current Position Analysis 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 $486,400 $392,000 563,200 441,000 Marketable securities Accounts and notes receivable (net) Inventories 230,400 147,000 950,400 597,800 Prepaid expenses 489,600 382,200 $2,720,000 $1,960,000 Total current assets Current liabilities: Accounts and notes payable (short-term) Accrued liabilities $464,000 $490,000 336,000 210,000 Total current liabilities $800,000 $700,000 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 improved from the preceding year to the current year. The working capital, current ratio, and quick ratio have all increased . Most of these changes are the result of an increase in current assets relative to current liabilities