eBook Show Me How Calculator Print Item 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 $554,400 $664,200 769,100 Marketable securities 623,700 Accounts and notes receivable (net) Inventories 314,700 1,003,200 516,800 $3,268,000 207,900 724,700 463,300 $2,574,000 Prepaid expenses Total current assets Current Wabies Accounts and notes payable (short-term) Accrued lobes $440,800 319,200 $760,000 $462,000 198,000 Total current abilities $660,000 a. Determine for each year (1) the working capital (2) the current ratio, and (3) the ouick to Round ratios to one decimal place, Current Year Previous Year 1. Worang capital 2. Current ratio 3. Quick to Oh My Work 2 mome My Wong eBook Show Me How Calculator nicom Current assets Cash $664,200 $554,400 Marketable securities Accounts and notes receivable (net) Inventories 769,100 314,700 1,003,200 516,800 $3,268,000 623,700 207,900 724,700 463,300 $2,574,000 Prepaid expenses Total current assets Current liabilities: Accounts and notes payable (short-term) Accrued liabilities $440,800 319,200 $462,000 19 $660,000 Total current abilities $760,000 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