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 $313,500 $249,600 Marketable securities 363,000 280,800 Accounts and notes receivable (net) 148,500 93,600 Inventories 871,200 614,900 Prepaid expenses 448,800 393,100 Total current assets $2,145,000 $1,632,000 Current liabilities: Accounts and notes payable (short-term) $319,000 $336,000 Accrued liabilities 231,000 144,000 $550,000 $480,000 Total current liabilities 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 Marketable securities 363,000 200,000 Accounts and notes receivable (net) 148,500 93,600 Inventories 871,200 614,900 Prepaid expenses 448,800 393,100 Total current assets $2,145,000 $1,632,000 Current liabilities: Accounts and notes payable (short-term) $319,000 $336,000 Accrued liabilities 231,000 144,000 Total current liabilities $550,000 $480,000 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 ratio, and quick ratio have all assets relative to current liabilities: from the preceding year to the current year. The working capital, current Most of these changes are the result of an in current