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 $319,200 $235,200
Marketable securities 369,600 264,600
Accounts and notes receivable (net) 151,200 88,200
Inventories 554,400 328,800
Prepaid expenses 285,600 210,200
Total current assets $1,680,000 $1,127,000

Current liabilities:
Accounts and notes payable (short-term) $324,800 $343,000
Accrued liabilities 235,200 147,000
Total current liabilities $560,000 $490,000

Requried:
a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place.
b. The liquidity of Nilo has from the preceding year to the current year. The working capital, current ratio, and quick ratio have all .