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Norsk Optronics, ALS, of Bergen, Norway, had a current ratio of 2 on June 30 of the current year. On that date, the companys assets

Norsk Optronics, ALS, of Bergen, Norway, had a current ratio of 2 on June 30 of the current year. On that date, the companys assets were: Cash $ 69,000 Accounts receivable, net 440,000 Inventory 710,000 Prepaid expenses 9,000 Plant and equipment, net 1,720,000 Total assets $ 2,948,000 Required: 1. What was the companys working capital on June 30? 2. What was the companys acid-test ratio on June 30? (Round your answer to 2 decimal places.) 3. The company paid an account payable of $46,000 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

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