Norsk Optronics, ALS, of Bergen, Norway, had a current ratio of 4 on June 30 of the current year. On that date, the companys assets were:

Cash	$	65,000
Accounts receivable, net		440,000
Inventory		740,000
Prepaid expenses		11,000
Plant and equipment, net		1,780,000
Total assets	$	3,036,000

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.)