eBook Show Me How VideoPrint Item Question Content Area Current Position Analysis The following data were taken from the comparative balance sheet of Icon Living, Inc., for the years ended December 31, 20Y9 and December 31, 20Y8: Dec. 31, 20Y9 Dec. 31, 20Y8 Cash $ 75,000 $ 50,000 Temporary investments 125,000 75,000 Accounts and notes receivable (net) 250,000 200,000 Inventories 425,000 305,000 Prepaid expenses 25,000 20,000 Total current assets $900,000 $650,000 Accounts payable $ 350,000 $ 230,000 Accrued liabilities 25,000 20,000 Total current liabilities $ 375,000 $ 250,000 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place. 20Y9 20Y8 Working capital $fill in the blank 1 $fill in the blank 2 Current ratio fill in the blank 3 fill in the blank 4 Quick ratio fill in the blank 5 fill in the blank 6 b. The liquidity of Icon Living, Inc., appears to have between 20Y8 and 20Y9 since the companys working capital increased. However, given that the current ratio and quick ratio , it should be concluded that the company's liquidity declined from 20Y8 to 20Y9. These changes are the result of and change in the mix of current assets