Question
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
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 $446,900 $352,800 Marketable securities 517,400 396,900 Accounts and notes receivable (net) 211,700 132,300 Inventories 443,500 298,900 Prepaid expenses 228,500 191,100 Total current assets $1,848,000 $1,372,000 Current liabilities: Accounts and notes payable (short-term) $324,800 $343,000 Accrued liabilities 235,200 147,000 Total current liabilities $560,000 $490,000 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place.
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