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The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Line Item Description Current Year

The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years:
Line Item Description Current Year Previous Year
Current assets:
Cash $444,600 $387,500
Marketable securities 585,500457,300
Accounts and notes receivable (net)720,900550,200
Inventories 537,600120,400
Prepaid expenses 265,80074,900
Total current assets $2,554,400 $1,590,300
Current liabilities:
Accounts and notes payable (short-term) $746,800 $620,000
Accrued liabilities 283,200310,000
Total current liabilities $1,030,000 $930,000
This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below.
Open spreadsheet
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.
Line Item Description Current Year Previous Year
1. Working capital $fill in the blank 2
$fill in the blank 3
2. Current ratio fill in the blank 4
fill in the blank 5
3. Quick ratio fill in the blank 6
fill in the blank 7

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