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 $576,800 $478,800 Marketable securities A 667,900 538,700 Accounts and notes receivable (net) 273,300 179,500 Inventories 827,600 521,600 Prepaid expenses 426,400 333,400 Total current assets $2,772,000 $2,052,000 Current liabilities: Accounts and notes payable (short-term) $382,800 $399,000 Accrued liabilities Total current liabilities 277,200 $660,000 171,000 $570,000 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place. 1. Working capital Current Year Previous Year 2. Current ratio 3. Quick ratio b. The liquidity of Nilo has Most of these changes 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