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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 Year Previous Year Current

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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 Year Previous Year Current assets: Cash $548,700 $422,400 Marketable securities 635,400 475,200 Accounts and notes receivable (net) 259,900 158,400 Inventories 902,900 563,600 Prepaid expenses 465,100 360,400 Total current assets $2,812,000 $1,980,000 Current liabilities: Accounts and notes payable (short-term) $440,800 $462,000 Accrued liabilities 319,200 198,000 Total current liabilities $760,000 $660,000 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 Previc Check My Work

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