OBICOIatOr Print item 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 $358,700 $265,200 Marketable securities 415,400 298,400 Accounts and notes receivable (net) 169,900 99,400 Inventories 739,900 560,000 Prepaid expenses 381,100 358,000 Total current assets $2,065,000 $1,581,000 Current liabilities: Accounts and notes payable (short-term) $342,200 $357,000 Accrued liabilities 247,800 153,000 Total current liabilities $590,000 $510,000 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