Answer the boxes

Exercise 16-12 (Algo) Selected Financial Measures for Assessing Liquidity [LO16-2] Norsk Optronics, ALS, of Bergen, Norway, had a current ratio of 2 on June 30 of the current year. On that date, the company's assets were: Cash $ 73,000 Accounts receivable, net 390, 000 Inventory 690, 000 Prepaid expenses 10,000 Plant and equipment, net 1, 820,000 Total assets $ 2,983,000 Required: 1. What was the company's working capital on June 30? ces 2. What was the company's 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 to 1 decimal place.) 1. Working capital 2. Acid-test ratio 3a. Effect on working capital 3b. Effect on current ratio