If Soule Company had net income of $585,000 in 2011 and it experienced a 30% increase in net income over 2010, what was its 2010 net income?
|
PERKINS INC. |
|
|
Balance Sheet (partial) |
|
|
Cash |
8,041,000 |
|
Short-term investments |
4,947,000 |
|
Accounts receivable |
12,545,000 |
|
Inventories |
14,814,000 |
|
Other current assets |
5,571,000 |
|
Total current assets |
45,918,000 |
|
Total current liabilities |
40,644,000 |
What are the (a) working capital, (b) current ratio, and (c) acid-test ratio? (Round ratios to 2 decimal places, e.g. 10.50.)