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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 $668,800 $560,000 Marketable securities 774,400 630,000 Accounts and notes receivable (net) 316,800 739,200 Inventories 210,000 512,400 327,600 $2,240,000 Prepaid expenses 380,800 Total current assets $2,880,000 Current liabilities: Accounts and notes payable (short-term) $464,000 $490,000 Accrued liabilities 336,000 210,000 Total current liabilities $800,000 $700,000 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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