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Norsk Optronics had a current ratio of 2 on June 30 of the current year....

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Accounting

Norsk Optronics had a current ratio of 2 on June 30 of the current year. On that date, the companys assets were:
Cash $ 78,000
Accounts receivable, net 400,000
Inventory 680,000
Prepaid expenses 10,000
Plant and equipment, net 1,740,000
Total assets $ 2,908,000
Required:
What was the companys working capital on June 30?
What was the companys acid-test ratio on June 30?
Note: Round your answer to 2 decimal places.
The company paid an account payable of $42,000 immediately after June 30.
What effect did this transaction have on working capital?
What effect did this transaction have on the current ratio?
Note: Round your intermediate calculations to 1 decimal place.

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