1. The following data were taken from the balance sheet of Albertini Company at the end of two recent fiscal years:

   				Current Year			Previous Year
   Current assets:
   Cash				$372,400			$285,500
   Marketable securities				425,900			326,400
   Accounts and notes receivable (net)				531,700			408,100
   Inventories				343,200			210,600
   Prepaid expenses				146,800			89,400
   	Total current assets			$1,820,000			$1,320,000
   Current liabilities:
   Accounts and notes payable (short-term)				$404,000			$352,000
   Accrued liabilities				296,000			248,000
   	Total current liabilities			$700,000			$600,000

   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 Albertini 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.