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 $480,700 $384,000 Marketable securities 556,600 432,000 Accounts and notes receivable (net) 144,000 227,700 798,600 Inventories 585,600 Prepaid expenses 411,400 374,400 Total current assets $2,475,000 $1,920,000 Current liabilities: Accounts and notes payable (short-term) $319,000 $336,000 Accrued liabilities 231,000 144,000 Total current liabilities $550,000 $480,000 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 Most of b. The liquidity of Nilo has these changes are the result of an from the preceding year to the current year. The working capital, current ratio, and quick ratio have all in current assets relative to current liabilities