Ch 17-3 Exercises and Problems 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 Marketable securities Accounts and notes receivable (net) Inventories Prepaid expenses $413,400 478,700 195,900 1,301,500 670,500 $3,060,000 $330,400 371,700 123,900 935,700 598,300 $2,360,000 Total current assets > Current liabilities: Accounts and notes payable (short-term) Accrued liabilities $394,400 285,600 $680,000 $413,000 177,000 $590,000 Total current liabilities 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 Check My Work 2 more Check My Work uses remaining, Prepaid expenses Total current assets 670,500 $3,060,000 598,300 $2,360,000 Current liabilities: Accounts and notes payable (short-term) Accrued liabilities Total current liabilities $413,000 $394,400 285,600 177,000 $590,000 $680,000 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. Previous Check My Work 2 more Check My Work uses remaining. Submit Accions