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 $551,800 $456,000 Marketable securities 638,900 513,000 Accounts and notes receivable (net) 261,300 171,000 Inventories 914,800 660,600 Prepaid expenses 471,200 422,400 Total current assets $2,838,000 $2,223,000 Current liabilities: Accounts and notes payable (short-term) Accrued liabilities Total current liabilities $382,800 $399,000 171,000 277,200 $660,000 $570,000 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 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.