Current Position AnalysisThe following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years:Current YearPrevious YearCurrent assets:CashMarketable securitiesAccounts and notes receivable (net)InventoriesPrepaid expensesTotal current assetsCurrent liabilities:Accounts and notes payable(short-term)Accrued liabilitiesTotal current liabilities$387,600448,800183,6001,032,200531,800$2,584,0001. Working capital2. Current ratio3. Quick ratiob. The liquidity of Nilo has improvedincreased$394,400285,600$680,000$306,800345,200115,000719,800460,200$1,947,000$413,000177,000$590,000a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place.Current YearPrevious Year✔ from the preceding year to the current year. The working capital, current ratio, and quick ratio have all✔Most of these channes are the result of an increase✔in nurrent accets relative to current liabilities

Current and quick ratios are the measures computed to determine the liquidity position of the…

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 $387,600 448,800 183,600 1,032,200 531,800 $2,584,000 1. Working capital 2. Current ratio 3. Quick ratio $394,400 285,600 $680,000 $306,800 345,200 115,000 719,800 460,200 $1,947,000 $413,000 177,000 $590,000 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

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 $387,600 448,800 183,600 1,032,200 531,800 $2,584,000 1. Working capital 2. Current ratio 3. Quick ratio $394,400 285,600 $680,000 $306,800 345,200 115,000 719,800 460,200 $1,947,000 $413,000 177,000 $590,000 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

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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