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Norsk Optronics, ALS, of Bergen, Norway, had a current ratio of...

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Accounting

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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: Cash Accounts receivable, net Inventory Prepaid expenses Plant and equipment, net Total assets $ 75,000 390,000 680,000 9,000 1,800,000 $2,954,000 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 pold an account payable of $49,000 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.) 577.000 0.81 1 Working capital 2 Acid-tost ratio 3a. Effoct on working capital 3b. Effect on current ratio Working capital would decrease Current ratio would increase

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