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2 On June 30, Year 3, Franklin Company's total current assets were $495,500 and its total current liabilities were $279,000. On July 1, Year
2 On June 30, Year 3, Franklin Company's total current assets were $495,500 and its total current liabilities were $279,000. On July 1, Year 3, Franklin issued a long-term note to a bank for $38,400 cash. Required 10 points a. Compute Franklin's working capital before and after issuing the note. b. Compute Franklin's current ratio before and after issuing the note. (Round your answers to 1 decimal place.) Answer is not complete. Before the After the transaction transaction a Working capital $ 400,000 b. Current ratio 4
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