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: $340,500 $254,800 286,700 394,200 Cash Marketable securities Accounts and notes receivable (net) Inventories 95,500 161,300 961,000 717,400 Prepaid expenses 495,000 458,600 $1,813,000 Total current assets $2,352,000 Current liabilities: Accounts and notes payable (short-term) $324,800 Accrued liabilities 235,200 $560,000 $343,000 147,000 $490,000 Total current abilities 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 Next Sumit Test for Grad