Norsk Optronics had a current ratio of on June of the current year. On that date, the companys assets were:
Cash $
Accounts receivable, net
Inventory
Prepaid expenses
Plant and equipment, net
Total assets $
Required:
What was the companys working capital on June
What was the companys acidtest ratio on June
Note: Round your answer to decimal places.
The company paid an account payable of $ immediately after June
What effect did this transaction have on working capital?
What effect did this transaction have on the current ratio?
Note: Round your intermediate calculations to decimal place.
