Norsk Optronics,ALS,of Bergen,Norway,had a current ratio of 2.5 on june 30 of the current year.

Norsk Optronics,ALS,of Bergen,Norway,had a current ratio of 2.5 on June 30 of the current year. On that date the company's assets were Cash  $       90,000.00 Accounts Receivable,net  $    2,60,000.00 Inventory  $    4,90,000.00 Prepaid Expenses  $       10,000.00 Plant and Equipment men  $    8,00,000.00 Total Assets  $ 16,50,000.00 Required: 1) What was the company's working capital on June 30th? 2) What was the company's acid test ratio on June 30th? 3) The company paid an account payable of $40,000 immediately after June 30th? a) What effect did this transaction have on working capital? Show Computations. b) What effect did this transaction have on the current ratio? Show Computations.