Business, 27.04.2021 15:00 mhayslett

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 $414,000 $320,000
Marketable securities 496,800 336,000
Accounts and notes receivable (net) 619,200 464,000
Inventories 351,900 272,000
Prepaid expenses 188,100 208,000
Total current assets $2,070,000 $1,600,000
Current liabilities:
Accounts and notes payable (short-term) $675,000 $600,000
Accrued liabilities 225,000 200,000
Total current liabilities $900,000 $800,000
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
b. The liquidity of Nilo has (Improved/Declined) from the preceding year to the current year. The working capital, current ratio, and quick ratio have all (increased/Decreased) . Most of these changes are the result of an (Increase/Decrease) in current assets relative to current liabilities.

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

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