Current Position Analysis The following data were taken from the balance sheet of Albertini Company at the end of two recent fiscal years: 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 Current Year Previous Year $503,900 $408,000 583,400 459,000 238,700 153,000 1,647,400 1,120,000 848,600 716,000 $3,822,000 $2,856,000 $452,400 $476,000 327,600 $780,000 204,000 $680,000 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 Albertini has from the preceding year to the current year. The working capital, current ratio, and quick ratio have all Most of these changes are the result of an in current assets relative to current liabilities.