On June 30, 2014, Freeman Companys total current assets were $800,000 and its total current liabilities were $400,000. On July 1, 2014, Freeman issued a short-term note to a bank for $80,000 cash.

Required a. Compute Freemans working capital before and after issuing the note.

before the transaction?

after the transaction?

Compute Freemans current ratio before and after issuing the note. (Round your answers to 2 decimal places.)

before the transaction?

after the transaction?