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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
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 $433,200 $316,800 Marketable securities 356,400 501,600 205,200 Accounts and notes receivable (net) 118,800 402,600 Inventories 652,100 Prepaid expenses 335,900 257,400 Total current assets $2,128,000 $1,452,000 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
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