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 $425,600 $336,000 Marketable securities 492,800 Accounts and notes receivable (net) Inventories 201,600 897,600 462,400 378,000 126,000 512,400 327,600 Prepaid expenses Total current assets $2,480,000 $1,680,000 Current liabilities: Accounts and notes payable (short-term) Accrued liabilities $464,000 336,000 $800,000 $490,000 210,000 Total current liabilities $700,000 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 Most of these changes are the result of an from the preceding year to the current year. The working capital current ratio, and quick ratio have all in current assets relative to current liabilities