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 $362,500 $294,400 Marketable securities 419,800 331,200 Accounts and notes receivable (net) 171,700 110,400 Inventories 384,800 224,500 Prepaid expenses 198,200 143,500 Total current assets $1,537,000 $1,104,000 Current liabilities: Accounts and notes payable (short-term) Accrued liabilities $307,400 $322,000 222,600 138,000 $460,000 Total current liabilities $530,000 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 Squidity of Nilo has result of an from the preceding year to the current year. The working capital, current ratio, and quick ratio have all Most of these changes are the in current assets relative to current liabilities