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 $355,700 $288,000 Marketable securities 411,800 324,000 Accounts and notes receivable (net) Inventories 168,500 858,000 108,000 576,400 Prepaid expenses 442,000 368,600 Total current assets $2,236,000 $1,665,000 Current liabilities: Accounts and notes payable (short-term) Accrued liabilities $301,600 $315,000 135,000 218,400 Total current liabilities $520,000 $450,000 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 b. The liquidity of Nilo has ratio have all from the preceding year to the current year. The working capital, current ratio, and quick Most of these changes are the result of an in current assets relative to current liabilities