At December 31, 2019, Kimberly Young Corporation reported current assets of $387,560 and current liabilities of $215,400. The following items may have been recorded incorrectly. 1. Goods purchased costing $23,820 were shipped f.o.b. shipping point by a supplier on December 28. Young received and recorded the invoice on December 29, 2019, but the goods were not included in Young's physical count of inventory because they were not received until January 4, 2020. Goods purchased costing $15,990 were shipped f.o.b. destination by a supplier on December 26. Young received and recorded the invoice on December 31, but the goods were not included in Young's 2019 physical count of inventory because they were not received until January 2, 2020. 3. Goods held on consignment from Claudia Kishi Company were included in Young's December 31, 2019, physical count of inventory at $12,430. 4. Freight-in of $2,810 was debited to advertising expense on December 28, 2019. Compute the current ratio based on Young's balance sheet. (Round ratio to 2 decimal places, e.g. 2.31:1.) The current ratio Recompute the current ratio after corrections are made. (Round ratio to 2 decimal places, e.g. 2.31:1.) The current ratio By what amount will income (before taxes) be adjusted up or down as a result of the corrections? Assume that goods are sold in item #4. Adjust Income $