Current Position Analysis f two recent fiscal years: The following data were taken from the balance sheet of Nilo Company at the end Current Year Previous Year Current assets: Cash $547,200 $448.000 Marketable securities 633.600 504.000 Accounts and notes receivable (net) 259,200 168.000 Inventories 844,800 469,700 Prepaid expenses 435,200 300,300 Total current assets $2,720,000 $1,890,000 Current liabilities: Accounts and notes payable (short-term) $464,000 $490.000 Accrued liabilities 336.000 210.000 Total current liabilities $800,000 $700,000 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the qulck ratio. Round ratios to one decimal place. Current Year Previous Year 1. Working 1,920,000 1,190,000 capital 2. Current ratio 2.7V 3.4 2.0 x 3. Ouick ratio 2.3 X b. The liquidity of Nilo has improved from the preceding vear to the current vear., The working capital, current ratio, and quick ratio have all increased Most of these changes are the result of an increase in current assets relative to current liabilities