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The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Current assets: Current Year
The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Current assets: Current Year Previous Year Cash $558,600 $439,200 Marketable securities 646,800 494,100 Accounts and notes receivable (net) 264,600 164,700 Inventories 369,600 223,300 Prepaid expenses 190,400 142,700 Total current assets $2,030,000 $1,464,000 Current liabilities: Accounts and notes payable (short-term) Accrued liabilities Total current liabilities $406,000 $427,000 294,000 183,000 $700,000 $610,000 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
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