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 $419,500 $352,800 Marketable securities 485,800 396,900 Accounts and notes receivable (net) 198,700 132,300 Inventories 823,700 589,300 Prepaid expenses 424,300 376,700 Total current assets $2,352,000 $1,848,000 Current liabilities: Accounts and notes payable (short-term) $278,400 3294,000 Accrued liabilities 201,600 126,000 Total current liabilities $480,000 $420,000 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 Previous Next SUCCES Cash $419,500 485,800 Marketable securities $352,800 396,900 132,300 589,300 198,700 Accounts and notes receivable (net) Inventories 823,700 424,300 376,700 Prepaid expenses $2,352,000 $1,848,000 Total current assets Current liabilities: Accounts and notes payable (short-term) $294,000 $278,400 201,600 126,000 Accrued liabilities $480,000 $420,000 Total current liabilities a. Determine for each year (1) the worldng 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 from the preceding year to the current year. The working capital, current ratio, and quick ratio have all Most of these changes are the result of an In current assets relative to current abilities Drew Next