Current Year Previous Year Current assets: Cash $489,400 $411,600 Marketable securities 463,100 566,700 231,900 Accounts and notes receivable (net) 154,300 Inventories 209,200 Prepaid expenses 332,600 171,400 $1,792,000 133,800 Total current assets $1,372,000 Current liabilities: Accounts and notes payable (short-term) $324,800 $343,000 Accrued liabilities 235,200 147,000 Total current liabilities $560,000 $490,000 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 $ $ 1,512,000 X 980,000 X 2. Current ratio 3.7 X 3 X 3. Quick ratio 2.8 X 2.4 X in b. The liquidity of Nilo has declined X from the preceding year to the current year. The working capital, current ratio, and quick ratio have all decreased X Most of these changes are the result of an decrease X current assets relative to current liabilities