Current position analysis The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Current assets: Current Year Previous Year Cash $501,600 $395,200 Marketable securities 580,800 444,600 Accounts and notes receivable (net) 237,600 148,200 Inventories 514,800 380,600 Prepaid expenses 265,200 243,400 Total current assets $2,100,000 $1,612,000 Current liabilities: Accounts and notes payable (short- term) Accrued liabilities Total current liabilities $348,000 $364,000 252,000 156,000 $600,000 $520,000 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 capital, current ratio, and quick ratio have all an from the preceding year to the current year. The working Most of these changes are the result of in current assets relative to current liabilities