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 $279,300 $206,400 Marketable securities 323,400 232,200 Accounts and notes receivable (net) 132,300 77,400 Inventories 1,131,900 839,400 Prepaid expenses 583,100 536,600 Total current assets $2,450,000 $1,892,000 Current liabilities: Accounts and notes payable (short-term) $284,200 $301,000 Accrued liabilities 205,800 129,000 Total current liabilities $490,000 $430,000 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 from the preceding year to the current year. The working capital, current ratio, and quick ratio have all Most of these changes are the result of an in current assets relative to current liabilities