Current Position Analysis The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Current assets: Current Year Previous Year Cash $638,400 $504,000 Marketable securities 739,200 567,000 Accounts and notes receivable (net) 302,400 189,000 Inventories 686,400 384,300 Prepaid expenses 353,600 245,700 Total current assets $2,720,000 $1,890,000 Current liabilities: Accounts and notes payable (short-term) Accrued liabilities Total current liabilities $464,000 $490,000 336,000 $800,000 210,000 $700,000 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 quick ratio have all to current liabilities. . from the preceding year to the current year. The working capital, current ratio, and Most of these changes are the result of an in current assets relative