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?
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PERKINS INC.
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Balance Sheet (partial)
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Cash
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8,041,000
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Short-term investments
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4,947,000
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Accounts receivable
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12,545,000
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Inventories
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14,814,000
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Other current assets
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5,571,000
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Total current assets
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45,918,000
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Total current liabilities
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40,644,000
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What are the (a) working capital, (b) current ratio, and (c) acid-test ratio? (Round ratios to 2 decimal places, e.g. 10.50.)