Current position analysis 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 Marketable securities Accounts and notes receivable (net) Inventories Prepaid expenses Total current assets 1. Working capital 2. Current ratio $593,600 687,300 281,100 1,077,800 555,200 $3,195,000 Current liabilities: Accounts and notes payable (short-term) Accrued liabilities Total current liabilities 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 3. Quick ratio b. The liquidity of Nilo has ( of an $496,000 558,000 186,000 718,600 459,400 $2,418,000 $411,800 298,200 $710,000 $434,000 186,000 $620,000 from the preceding year to the current year. The working capital, current ratio, and quick ratio have all In current assets relative to current liabilities.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Current position analysis
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
Marketable securities
Accounts and notes receivable (net)
Inventories
Prepaid expenses
Total current assets
Current liabilities:
Accounts and notes payable (short-term)
Accrued liabilities
Total current liabilities.
1. Working capital
2. Current ratio
$593,600
687,300
281,100
1,077,800
555,200
$3,195,000
3. Quick ratio
b. The liquidity of Nilo has
of an
$411,800
298,200
$710,000
$496,000
558,000
186,000
718,600
459,400
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
$2,418,000
$434,000
186,000
$620,000
from the preceding year to the current year. The working capital, current ratio, and quick ratio have all
in current assets relative to current liabilities.
. Most of these changes are the result
Transcribed Image Text:Current position analysis 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 Marketable securities Accounts and notes receivable (net) Inventories Prepaid expenses Total current assets Current liabilities: Accounts and notes payable (short-term) Accrued liabilities Total current liabilities. 1. Working capital 2. Current ratio $593,600 687,300 281,100 1,077,800 555,200 $3,195,000 3. Quick ratio b. The liquidity of Nilo has of an $411,800 298,200 $710,000 $496,000 558,000 186,000 718,600 459,400 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 $2,418,000 $434,000 186,000 $620,000 from the preceding year to the current year. The working capital, current ratio, and quick ratio have all in current assets relative to current liabilities. . Most of these changes are the result
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