PROBLEM #3- XCEL Industries had a current ratio of 3.0 on December 31 of the current year. On that date, the company's assets were as indicated below. Based on such information, calculate the following: 1: Working capital 2. Acid test ratio 3. The Company paid an Accounts payable of $50,000 on January 1st of the following year- what impact will this have on working capital? 4. Based on the transaction described in 3 above, what impact will this have on the current ratio? Cash Accounts receivable, net $90,000 300,000 Inventory 290,000 Prepaid expenses 10,000 Plant and equipment, net 900,000 Total assets $1,590,000