Tannenhill Company

Common$-$Sized Income Statement

For the Year Ended December $31$

The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Chapter 17 Assignment assignment take frame ar Current assets: Cash Marketable securities Accounts and notes receivable (net) Inventories Prepaid expenses Total current assets Current liabilities: Accounts and notes payable (short-term) Accrued liabilities Total current liabilities $431,700 499,800 204,500 937,200 482,800 $2,556,000 $411,800 298,200 $710,000 Previous Year $322,400 362,700 120,900 642,900 411,100 $1,860,000 $434,000 186,000 $620,000 a. 1. 2. 3. 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 Working capital Current ratio Quick ratio