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Current Position Analysis The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal yeans Current Year
Current Position Analysis The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal yeans Current Year Previous Year Current assets: Cash Marketable securities Accounts and notes receivable (net) Inventories Prepaid expenses $512,600 593,600 242,800 609,200 313,800 $2,272,000 $421,600 474,300 158,100 378,200 241,800 $1,674,000 Total current assets Current liabilitles: Accounts and notes payable $411,800 298,200 5710,000 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio, Round ratios to one decimal place. short-term) Accrued liabilities $434,000 186,000 $620,000 Total current liabilities Current Year Previous Year 1. Working capital 2. Current ratio 3. Quick ratio
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