Corrent OSIonATan 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: $450,300 $358,800 Cash Marketable securities 521,400 403,700 213,300 Accounts and notes receivable (net) 134,500 Inventories 1,407,800 926,000 725,200 Prepaid expenses 592,000 $3,318,000 $2,415,000 Total current assets Current liabilities: Accounts and notes payable (short-term) $483,000 $458,200 Accrued liabilities 331,800 207,000 $790,000 $690,000 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. Previous Year Current Year 1. Working capital 2. Current ratio Dr Nast a PM 4 00 12/019 Prepaid expenses 725,200 592,000 Total current assets $3,318,000 $2,415,000 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 3. Quick ratio from the preceding year to the current year. The working capital, current ratio, and quick ratie have all b. The liquidity of Nilo has in current assets relative to current labilities Most of these changes are the result of an Fesdback Check My Work a1. Subtract current liabilities from current assets