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 $462,100 $358,400 Marketable securities 535,000 403,200 Accounts and notes receivable (net) 218,900 134,400 Inventories 887,000 649,000 Prepaid expenses 457,000 415,000 Total current assets $2,560,000 $1,960,000 Current liabilities: Accounts and notes payable (short-term) Accrued liabilities Total current liabilities $371,200 $392,000 268,800 168,000 $640,000 $560,000 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 improved 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 inc in current assets relative to current liabilities. Check My Work Pre