3.	The company paid an account payable of $28,000 immediately after June 30.

a.

What effect did this transaction have on working capital?

	Working capital would increase.
	Working capital would decrease.
	Working capital would not be affected.

b.

What effect did this transaction have on the current ratio?

	Current ratio would increase.
	Current ratio would decrease.
	Current ratio would not be affected.

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 67,000 410.000 Accounts receivable, net 740,000 Inventory 11,000 Prepaid expenses Plant and equipment, net 1,800,000 Total assets $3,028,000 Required: 1. What was the company's working capital on June 30? orking capital 2. What was the company's acid-test ratio on June 30? (Round your answer to 2 decimal places.) Acid-test ratio