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Current position Analysis The following data were taken from the balance sheet of Albertini Company at the end of two recent fiscal years Current Year

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Current position Analysis The following data were taken from the balance sheet of Albertini Company at the end of two recent fiscal years Current Year Previous Year Current assets: Cash $439,300 $354,000 Marketable securities 508,600 398,300 Accounts and notes receivable (net) 208,100 132,700 Inventories 493,700 215.900 Prepaid expenses 254,300 138,100 Total current assets $1,904,000 $1,239,000 Current liabilities: Accounts and notes payable (short-term) $394,400 $413,000 Accrued liabilities 285,600 177,000 Total current liabilities $680,000 $590,000 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 $ 2.8 X 2.1 X 2. Current ratio 3. Quick ratio

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