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 $389,900 $319,600 Marketable securities 451,400 359,600 Accounts and notes receivable (net) 184,700 119,800 Inventories 356,400 200,700 Prepaid expenses 183,600 128,300 Total current assets $1,566,000 $1,128,000 Current liabilities: Accounts and notes payable (short-term) $313,200 Accrued liabilities 226,800 141,000 Total current liabilities $540,000 $470,000 $329,000 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 103,000 $1,566,000 128,300 $1,128,000 Total current assets Current liabilities: Accounts and notes payable (short-term) $313,200 $329,000 Accrued liabilities 226,800 141,000 Total current liabilities $540,000 $470,000 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