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 $445,700 $369,600 Marketable securities 516,100 415,800 Accounts and notes receivable (net) 211,200 138,600 Inventories 235,600 107,400 Prepaid expenses 121,400 68,600 Total current assets $1,530,000 $1,100,000 Current liabilities: Accounts and notes payable (short-term) $295,800 $308,000 Accrued liabilities 214,200 132,000 Total current liabilities $510,000 $440,000 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 h from the preceding year to the current year. The working capital, current ratio, and quick ratio have all improved are the result of an in current assets relative to current liabilities. declined