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 $710,900 $627,800 Marketable securities 936,300 740,800 Accounts and notes receivable (net) 1,152,800 891,400 Inventories 1,614,200 1,038,200 Prepaid expenses 798,300 645,500 Total current assets $5,212,500 $3,943,700 Current liabilities: Accounts and notes payable (short-term) $906,300 $753,400 Accrued liabilities Total current liabilities 343,700 $1,250,000 376,600 $1,130,000 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Open spreadsheet a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round the ratios to one decimal place and the working capital to the nearest dollar. Current Year Previous Year 1. Working capital $ $ 2. Current ratio 3. Quick ratio b. The liquidity of Nilo has improved from the preceding year to the current year. The working capital, current ratio, and quick ratio have all increased Most of these changes are the result of a(n) increase liabilities. in current assets relative to current