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.)
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