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 $765,000 $655,600 Marketable securities 1,007,500 773,600 Accounts and notes receivable (net) 1,240,500 930,800 Inventories 1,349,800 1,047,700 Prepaid expenses 667,600 651,500 Total current assets $5,030,400 $4,059,200 Current liabilities: Accounts and notes payable (short-term) $949,800 $786,700 Accrued liabilities 360,200 393,300 Total current liabilities $1,310,000 $1,180,000 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round the ratios to one decimal place and the working capital to the nearest dollar. 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 a(n) in current assets relative to current liabilities