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				$376,200			$273,600
Marketable securities				435,600			307,800
Accounts and notes receivable (net)				178,200			102,600
Inventories				1,481,000			1,147,400
Prepaid expenses				763,000			733,600
	Total current assets			$3,234,000			$2,565,000
Current liabilities:
Accounts and notes payable
	(short-term)			$382,800			$399,000
Accrued liabilities				277,200			171,000
	Total current liabilities			$660,000			$570,000

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	$fill in the blank 1			$fill in the blank 2
2. Current ratio	fill in the blank 3			fill in the blank 4
3. Quick ratio	fill in the blank 5			fill in the blank 6

b. The liquidity of Nilo has improved from the preceding year to the current year. The working capital, current ratio, and quick ratio have all increased . Most of these changes are the result of an increase in current assets relative to current liabilities.