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 $438,900 $345,600 Marketable securities 508,200 388,800 Accounts and notes receivable (net) 207,900 129,600 Inventories 907,500 702,700 Prepaid expenses 467,500 449,300 Total current assets $2,530,000 $2,016,000 Current liabilities: Accounts and notes payable (short-term) Accrued liabilities Total current liabilities $319,000 $336,000 231,000 $550,000 144,000 $480,000 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.