Current Year Previous Year Current assets: Cash $340,500 Marketable securities 394,200 Accounts and notes receivable (net) $254,800 286,700 95,500 388,600 248,400 161,300 517,400 266,600 Inventories Prepaid expenses Total current assets $1,680,000 $1,274,000 Current liabilities: Accounts and notes payable (short-term) $324,800 Accrued liabilities 235,200 $343,000 147,000 $490,000 Total current liabilities $560,000 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