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				$676,700			$542,800
Marketable securities				812,000			570,000
Accounts and notes receivable (net)				1,012,175			787,200
Inventories				111,400			53,800
Prepaid expenses				59,600			41,200
	Total current assets			$2,671,875			$1,995,000
Current liabilities:
Accounts and notes payable (short-term)				$801,600			$712,500
Accrued liabilities				267,150			237,500
	Total current liabilities			$1,068,750			$950,000

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.

Open spreadsheet

1. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round the ratios to one decimal place and the working capital to the nearest dollar.

   			Current Year			Previous Year
   1. Working capital	-			-
   2. Current ratio	-			-
   3. Quick ratio	-			-

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		$676,700	$542,800
Marketable securities		812,000	570,000
Accounts and notes receivable (net)		1,012,175	787,200
Inventories		111,400	53,800
Prepaid expenses		59,600	41,200
	Total current assets	$2,671,875	$1,995,000
Current liabilities:
Accounts and notes payable (short-term)		$801,600	$712,500
Accrued liabilities		267,150	237,500
	Total current liabilities	$1,068,750	$950,000