Norsk Optronics, ALS, of Bergen, Norway, had a current ratio of 4 on June 30...
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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 $ 64,000 Accounts receivable, net 390,000 Inventory 650,000 Prepaid expenses 12,000 Plant and equipment, net 1,800,000 Total assets $ 2,916,000 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
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