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urrent position analysis The following data were taken from the balance sheet of Nilo Company...

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Accounting

urrent position analysis

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

Line Item Description Current Year Previous Year
Current assets:
Cash $450,300 $331,200
Marketable securities 521,400 372,600
Accounts and notes receivable (net) 213,300 124,200
Inventories 1,668,500 1,220,600
Prepaid expenses 859,500 780,400
Total current assets $3,713,000 $2,829,000
Current liabilities:
Accounts and notes payable (short-term) $458,200 $483,000
Accrued liabilities 331,800 207,000
Total current liabilities $790,000 $690,000

a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place.

Line Item Description 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

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