At December 31, 2019,DonnaClarkCorporation reported current assets of $333,820and current liabilities of $219,200. The following items may have been recorded incorrectly.

1.Goods purchased costing $20,130were shipped f.o.b. shipping point by a supplier on December 28.Clarkreceived and recorded the invoice on December 29, 2019, but the goods were not included inClark's physical count of inventory because they were not received until January 4, 2020.

2.Goods purchased costing $14,260were shipped f.o.b. destination by a supplier on December 26.Clarkreceived and recorded the invoice on December 31, but the goods were not included inClark'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 inClark's December 31, 2019, physical count of inventory at $12,700.

4.Freight-in of $3,020was debited to advertising expense on December 28, 2019

Compute the current ratio based onClark's balance sheet.

The current ratio _______ : 1

Recompute the current ratio after corrections are made

The current ratio _______ : 1

By what amount will income (before taxes) be adjusted up or down as a result of the corrections? Assume thatgoods are sold in item #4.

Adjust Income $____________