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 $487,600 $377,100 Marketable securities 585,000 396,000 Accounts and notes receivable (net) 729,200 546,900 Inventories 116,100 49,900 Prepaid expenses 62,100 38,100 Total current assets $1,980,000 $1,408,000 Current liabilities: Accounts and notes payable (short-term) $742,500 $660,000 Accrued liabilities 247,500 220,000 Total current liabilities $990,000 $880,000 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Open spreadsheet Determine for each year (1) the working capital(2) the current ratio, and(3) the quick ratio. Round the ratios to one decimal place and the working capital to the nearest dollar.
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