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he following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Current Year Previous Year Current
he 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 | $434,700 | $342,000 | ||||||
Marketable securities | 503,400 | 384,800 | ||||||
Accounts and notes receivable (net) | 205,900 | 128,200 | ||||||
Inventories | 240,200 | 164,700 | ||||||
Prepaid expenses | 123,800 | 105,300 | ||||||
Total current assets | $1,508,000 | $1,125,000 | ||||||
Current liabilities: | ||||||||
Accounts and notes payable | ||||||||
(short-term) | $301,600 | $315,000 | ||||||
Accrued liabilities | 218,400 | 135,000 | ||||||
Total current liabilities | $520,000 | $450,000 |
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 | $fill in the blank 1 | $fill in the blank 2 | ||||
2. Current ratio | fill in the blank 3 | fill in the blank 4 | ||||
3. Quick ratio | fill in the blank 5 | fill in the blank 6 |
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