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The following data were taken from the comparative balance sheet of Icon Living, Inc., for...

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Accounting

The following data were taken from the comparative balance sheet of Icon Living, Inc., for the years ended December 31, 20Y9 and December 31, 20Y8: Dec. 31, 20Y9 Dec. 31, 20Y8 Cash $377,900 $287,600 Temporary investments 403,200 315,000 Accounts and notes receivable (net) 370,900 343,400 Inventories 518,400 425,700 Prepaid expenses 249,600 133,300 Total current assets $1,920,000 $1,505,000 Accounts payable $278,400 $301,000 Accrued liabilities 201,600 129,000 Total current liabilities $480,000 $430,000 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place. 20Y9 20Y8 Working capital $fill in the blank 1 $fill in the blank 2 Current ratio fill in the blank 3 fill in the blank 4 Quick ratio fill in the blank 5 fill in the blank 6 b. The liquidity of Icon Living, Inc., has from 20Y8 to the 20Y9. The working capital, current ratio, and quick ratio have all . Most of these changes are the result of

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