exercise chapter 14

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 $478,800 $374,000 Marketable securities 554,400 420,800 Accounts and notes receivable (net) 226,800 140,200 Inventories 914,800 704,600 Prepaid expenses 471,200 450,400 Total current assets $2,646,000 $2,090,000 Current liabilities: Accounts and notes Dayable (short-term) $365,400 $385,000 Accrued liabilities 264,600 165,000 Total current liabilities $630,000 $550,000 0. Determine for each year (1) tho woding capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal places Current Year Previous Year 1. Working capital 2 Current ratio