Current position analysis The following data were taken from the balance sheet of Nito Company at the end of two recent fiscal years Current Year Previous Year Current assets: Cash $358,900 $426,600 561,800 691,600 Marketable securities Accounts and notes receivable (net) Inventories 423,500 618,200 Prepaid expenses 509,600 285,900 177,700 $1,755,600 305,800 Total current assets $2,604,000 Current liabilities Accounts and notes payable (short-term) Accrued liabilities $609,000 231,000 $506,700 253,300 Total current liabilities $840,000 $760,000 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. FIL mun Open spreadsheet Jx od B D E Current Year Previous Year 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 $426,600 561,800 691,600 618,200 305,800 $2,604,000 $358,900 423,500 509,800 285,900 177 700 $1,755,600 $609,000 231,000 $840,000 $506,700 253,300 $760,000 Using formulas and cell references, perform the required analysis, and input your answers into the Current Year and Previous Year columns respectively. Transfer the numeric results for the green entry cells (C20:022) into the appropriate fields in CNOWV2 for grading Formulas 3 3 Current Year Previous Year a 1. Working capital 2. Current ratio 3. Quick ratio 0 1 2 3 A Data + 111 med Workbook Statistics a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round the ratios tu che decimal place was the right nearest dollar. Current Year Previous Year 1. Working capital 2. Current ratio 3. Quick ratio b. The liquidity of Nilo has from the preceding year to the current year. The working capital current Most of these changes are the result of a(n) in current assettiere