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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
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 $643,700 $536,000 Marketable securities 745,400 603,000 Accounts and notes receivable (net) 304,900 201,000 Inventories 1,321,300 980,900 Prepaid expenses 680,700 627,100 Total current assets $3,696,000 $2,948,000 Current liabilities: Accounts and notes payable (short-term) $446,600 $469,000 Accrued liabilities Total current liabilities 323,400 $770,000 201,000 $670,000 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 X 2. Current ratio x 3. Quick ratio
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