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 $570,400 $441,600 Marketable securities: 660,400 496,800 Accounts and notes receivable (net) 270,200 165,600 Inventories 1,251,400 968,100 Prepaid expenses 644,600 618,900) Total current assets $3,397,000 $2,691,000 Current liabilities: Accounts and notes payable (short-term) $458,200 $483,000 Accrued liabilities 331,800 Total current liabilities $790,000 207,000 $690,000 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 Vase Beaulnur Vase a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place. 1. Working capital Current Year Previous Year 2. Current ratio 3. Quick ratio b. The liquidity of Nilo has improved have all increased from the preceding year to the current year. The working capital, current ratio, and quick ratio V. Most of these changes are the result of an increase in current assets relative to current liabilities. Feedback Check My Work a.1. Subtract current liabilities from current assets. a.2. Divide current assets by current liabilities. a.3. Divide quick assets by current liabilities. Quick assets are cash, temporary investments, and receivables.