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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

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 $502,700 $396,000 Marketable securities 582,100 445,500 Accounts and notes receivable (net) 238,200 148,500 Inventories 1,122,700 805,200 Prepaid expenses 578,300 514,800 Total current assets $3,024,000 $2,310,000 Current liabilities: Accounts and notes payable (short-term) $365,400 $385,000 Accrued liabilities 264,600 165,000 Total current liabilities $630,000 $550,000 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.

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