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 $502,700 $418,000 Marketable securities 582,100 470,300 Accounts and notes 238,200 156,700 receivable (net) 1,164,200 838,800 Inventories Prepaid expenses Total current assets Current liabilities: Accounts and notes payable (short-term) Accrued liabilities Total current liabilities 599,800 536,200 $3,087,000 $2,420,000 $365,400 $385,000 264,600 $630,000 165,000 $550,000 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place. 1. Working capital 2. Current ratio 3. Quick ratio Current Year Previous Year 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.