Me How Current position analysis 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 $497,400 $402,000 Marketable securities 576,000 452,300 Accounts and notes receivable (net) 235,600 150,700 Inventories 762,300 531,300 Prepaid expenses 392,700 339,700 Total current assets $2,464,000 $1,876,000 Current liabilities: Accounts and notes payable (short-term) $446,600 $469,000 Accrued liabilities 323,400 201,000 Total current liabilities $770,000 $670,000 The following bartleby a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place. 1. Working capital Current Year Previous Year 2. Current ratio 3. Quick ratio b. The liquidity of Nilo has improved increased Most of these changes are the result of an increase from the preceding year to the current year. The working capital, current ratio, and quick ratio have all in current assets relative to current liabilities.