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Norsk Optronics, ALS, of Bergen, Norway, had a current ratio of 4 on June 30...

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Accounting

imageimage Norsk Optronics, ALS, of Bergen, Norway, had a current ratio of 4 on June 30 of the current year. On that date, the company's assets were: Required: 1. What was the company's working capital on June 30 ? 2. What was the company's acid-test ratio on June 30 ? (Round your answer to 2 decimal places.) 3. The company paid an account payable of $47,000 immediately after June 30. a. What effect did this transaction have on working capital? b. What effect did this transaction have on the current ratio? (Round your intermediate calculations to 1 decimal place.) A comparative income statement is given below for McKenzie Sales, Limited, of Toronto: Members of the company's board of directors are surprised to see that net income increased by only $190,400 when sales increased by $1,766,400. Required: 1. Express each year's income statement in common-size percentages. (Round your percentage answers to 1 decimal place (i.e., 0.1234 should be entered as 12.3).)

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