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 $454,900 $352,000 Marketable securities 526,700 396,000 Accounts and notes receivable (net) 215,400 132,000 Inventories 1,205,800 872,300 Prepaid expenses 621,200 557,700 Total current assets $3,024,000 $2,310,000 Current liabilities: Accounts and notes payable (short-term) Accrued liabilities Total current liabilities $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. Current Year Previous Year 1. Working capital 2. Current ratio 3. Quick ratio b. The liquidity of Nilo has improved increased from the preceding year to the current year. The working capital, current ratio, and quick ratio have all in current assets relative to current liabilities. . Most of these changes are the result of an increase