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 $7$