Question 9:

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	$455,000			$368,400
Marketable securities	599,300			434,700
Accounts and notes receivable (net)	737,900			522,900
Inventories	820,800			654,100
Prepaid expenses	405,900			406,700
	Total current assets	$3,018,900			$2,386,800
Current liabilities:
Accounts and notes payable (short-term)	$630,800			$520,000
Accrued liabilities	239,200			260,000
	Total current liabilities	$870,000			$780,000

a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round the ratios to one decimal place and the working capital to the nearest dollar. Current Year Previous Year 1. Working capital $ 2. Current ratio 3. Quick ratio