Current assets: Cash Marketable securities Accounts and notes receivable (net) Inventories Prepaid expenses Total current assets Current liabilities: Accounts and notes payable (short-term) Accrued liabilities. Total current liabilities $ 2,112,000 X 1. Working capital 2. Current ratio 3. Quick ratio b. The liquidity of Nilo has improved increased Current Year 4.2 X 2.3 $576,800 667,900 273,300 304,900 157,100 $1,980,000 $382,800 277,200 $660,000 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 $ 1,482,000 X Previous Year 3.6 X 2.1 $478,800 538,700 179,500 139,100 88,900 $1,425,000 $399,000 171,000 $570,000 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 increase in current assets relative to current liabilities.