The following data were taken from the balance sheet of Nile Company at the end of two recent fiscal years Current Year Previous Year Current assets Cash $313,900 $244,800 Marketable securities 363.400 275,400 Accounts and notes receivable (net) 148,700 91,800 Inventories 1,090,300 777,800 Prepaid expenses 561,700 497,200 Total current assets $2,478,000 $1,887,000 Current liabilities: Accounts and notes payable (short-term) $342,200 $357,000 Accrued liabilities 247,800 153,000 Total current liabilities $590,000 $510,000 a. Determine for each year (1) the woricing capital (2) the current ratio, and (3) the quick ratlo. 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