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 $421,800 $332,800 Marketable securities 488,400 374,400 Accounts and notes receivable (net) 124,800 Inventories 507,500 199,800 732,600 377,400 $2,220,000 Prepaid expenses 324,500 Total current assets $1,664,000 Current liabilities: Accounts and notes payable (short-term) $429,200 $448,000 Accrued liabilities 310,800 192,000 Total current liabilities $740,000 $640,000 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 - --- - Check My Worl marebook My Worlu Pompinin Previous Neyt Marketable securities 488,400 374,400 Accounts and notes receivable (net) 199,800 124,800 Inventories 507,500 732,600 377,400 Prepaid expenses 324,500 Total current assets $2,220,000 $1,664,000 Current liabilities: Accounts and notes payable (short-term) $429,200 $448,000 Accrued liabilities 310,800 192,000 Total current liabilities $740,000 $640,000 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 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 liabilities. Check My Workmanobook Previous Next Alor unor romaining