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Current Position Analysis The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Current
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 $391,000 $300,000 Marketable securities 515,000 354,000 Accounts and notes receivable (net) 634,000 426,000 Inventories 368,000 222,000 Prepaid expenses 182,000 138,000 Total current assets $2,090,000 $1,440,000 Current liabilities: Accounts and notes payable (short-term) $725,000 $600,000 Accrued liabilities Total current liabilities 275,000 $1,000,000 300,000 $900,000 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 Current Year Previous Year 2. Current ratio 3. Quick ratio
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