Home Chegg.com CengageNOW2 One teaching and learning resource from Cengage Learning 173 Exercises and Problems eBook Show Me How Calculator X-17-01. ALGO X.17-04. ALGO EX.17.05 ALGO EX 17-06 ALGO EX.17-19 ALGO The 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 $472,000 $360,000 Marketable securities 546,500 405,000 Accounts and notes receivable (net) 223,500 135,000 Inventories 1,229,600 915,000 Prepaid expenses 633,400 585,000 Total current assets $3,105,000 $2,400,000 Current liabilities: Accounts and notes payable (short-term) $400,200 $420,000 Accrued abilities 289,800 180,000 Total current liabilities $690,000 $600,000 EX 17-20 ALGO EX 17-21. ALGO PR. 17.04. ALGO a. Determine for each year (1) the working capital, (2) the current rutie, and (3) the quick ratio. Round ratios to one decimal place. Current Year Previous Year 1. Working capital 5 2. Current ratio 3. Quick ratio b. The liquidity of No 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 Previous Check My Work 2 more Check My Works remaining Progress: 4/8 items inter Submit Anment for Grading