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 $574,600 665,300 Marketable securities Accounts and notes receivable (net) Inventories 272,100 457,400 235,600 $2,205,000 $462,000 519,800 173,200 268,400 171,600 $1,595,000 Prepaid expenses Total current assets Current liabilities: Accounts and notes payable (short-term) Accrued liabilities $365,400 $385,000 264,600 165,000 $550,000 Total current liabilities $630,000 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick rata. Round ratios to one decimal place. Current Year Previous Year cash $574,600 665,300 Marketable securities Accounts and notes receivable (net) Inventories 3462.000 519,800 173,200 272,100 457,400 268,400 Prepaid expenses 171,600 Total current assets 235,600 $2,205,000 $1,595,000 Current liabilities: Accounts and notes payable (short-term) $365,400 $385,000 Accrued liabilities 264,600 165,000 Total current liabilities $630,000 $550,000 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