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 $406,600 $341,700 Marketable securities 535,600 403,200 Accounts and notes receivable (net) 659,400 485,100 Inventories 1,528,300 1,102,200 Prepaid expenses 755,800 685,400 Total current assets $3,885,700 $3,017,600 Current liabilities: Accounts and notes payable (short-term) $659,800 $546,700 Accrued liabilities 250,200 273,300 Total current liabilities $910,000 $820,000 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. 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 $ 2,975,700 2,197,600 2. Current ratio 3. Quick ratio 1.5 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 in current assets relative to current liabilities