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On June 30, 2018, Rundle Company's total current assets were $498,500 and its total current liabilities were $277,500. On July 1, 2018, Rundle issued a

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On June 30, 2018, Rundle Company's total current assets were $498,500 and its total current liabilities were $277,500. On July 1, 2018, Rundle issued a long-term note to a bank for $41,800 cash. Required a. Compute Rundle's working capital before and after issuing the note. b. Compute Rundle's current ratio before and after issuing the note. (Round your answers to 1 decimal place.) Before the transaction After the transaction a. Working Capital b. Current Ratio

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