Question: 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

 Current Position Analysis The following data were taken from the balance
sheet of Nilo Company at the end of two recent fiscal years:

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 $690,500 $579,600 Marketable securities 799,500 652,100 Accounts and notes receivathe (net) 327,000 217,300 Inventories 469,300 168,400 Prepaid expenses 241,700 107,600 Total current assets $2,528,000 $1,725,000 Current liabilities: Accounts and notes payable (short-term) $458,200 $483,000 Accrued liabilities 331,800 207,000 Total current liabilities $790,000 $690,000 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

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