3.9

On June 30, Year 3, Campbell Company's total current assets were $501,500 and its total current liabilities were $270,500. On July 1, Year 3, Campbell issued a long-term note to a bank for $38,400 cash. Required a. Compute Campbell's working capital before and after issuing the note. b. Compute Campbell's current ratio before and after issuing the note. (Round your answers to 1 decimal place.) 8 b Working capital Current ratio Before the transaction After the transaction