On June 30, 2018, Finch Companys total current assets were $501,500 and its total current liabilities were $278,500. On July 1, 2018, Finch issued a long-term note to a bank for $38,200 cash.

Required

1. Compute Finchs working capital before and after issuing the note.

2. Compute Finchs current ratio before and after issuing the note. (Round your answers to 1 decimal place.)

Homework - Chapter 9 6 Saved Help Save& Exit Submit 5 On June 30, 2018, Finch Company's total current assets were $501,500 and its total current liabilities were $273,500 on July 2018 Finch issued a long-term note to a bank for $38,200 cash. Required a. Compute Finch's working capital before and after issuing the note. 20.83 points b. Compute Finch's current ratio before and after issuing the note. (Round your answers to 1 decimal place.) eBook Hint References transaction transaction a. Working Capital b. Current Ratio