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 Marketable securities Accounts and notes receivable (net) $611,000 707,500 289,500 $487,200 548,100 182,700 106,100 Inventories 176,900 91,100 Prepaid expenses 67,900 Total current assets $1,876,000 $1,392,000 Current liabilities: Accounts and notes payable (short-term) Accrued liabilities $388,600 $406,000 281,400 174,000 Total current liabilities $670,000 $580,000 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 $ COM Marketable securities Accounts and notes receivable (net) Inventories 707,500 289,500 176,900 548,100 182,700 106,100 Prepaid expenses 91,100 67,900 Total current assets $1,876,000 $1,392,000 Current liabilities: Accounts and notes payable (short-term) Accrued liabilities $388,600 $406,000 281,400 $670,000 174,000 $580,000 Total current liabilities 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 . Most of these changes b. The liquidity of Nilo has are the result of an from the preceding year to the current year. The working capital, current ratio, and quick ratio have all in current assets relative to current liabilities