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 3433,200 $316,800 Marketable securities 501,600 356,400 Accounts and notes receivable (net) 205,200 118,800 Inventories 1,555,000 1,167,500 Prepaid expenses 801,000 746,500 Total current assets $3,496,000 $2,706,000 Current liabilities: Accounts and notes payable (short-term) $440,000 $462,000 Accrued liabilities 319,200 198,000 Total current liabilities $760,000 $660,000 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