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 $643,700 $509,200 Marketable securities 745,400 572,900 Accounts and notes receivable (net) 304,900 190,900 Inventories 863,900 531,300 Prepaid expenses 445,100 339,700 Total current assets $3,003,000 $2,144,000 Current liabilities: Accounts and notes payable (short-term) 5446,600 $469,000 Accrued abilities 323,400 201,000 Total current liabilities $770,000 $670,000 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 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