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 $340,500 $254,800 Marketable securities 394,200 286,700 Accounts and notes receivable (net) 161,300 95,500 Inventories 1,108,800 836,900 Prepaid expenses 571,200 535,100 Total current assets $2,576,000 $2,009,000 Current liabilities: Accounts and notes payable (short-term) $324,800 $343,000 Accrued liabilities 235,200 147,000 Total current liabilities $560,000 $490,000 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 and quick ratio have all relative to current liabilities. from the preceding year to the current year. The working capital, current ratio, in current assets Most of these changes are the result of an