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: Cash Current Year Previous Year $394,100 $296,800 Marketable securities 456,300 333,900 Accounts and notes receivable (net) 186,600 111,300 Inventories 1,288,300 937,600 Prepaid expenses 663,700 599,400 Total current assets $2,989,000 $2,279,000 Current liabilities: Accounts and notes payable (short-term) $353,800 $371,000 Accrued liabilities 256,200 Total current liabilities $610,000 159,000 $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. 1. Working capital 2. Current ratio 3. Quick ratio Current Year Previous Year b. The liquidity of Nilo has improved increased from the preceding year to the current year. The working capital, current ratio, and quick ratio Vin current assets relative to current liabilities. V. Most of these changes are the result of an increase