On June 30, 2018, Rundle Companys total current assets were $500,500 and its total current liabilities were $272,500. On July 1, 2018, Rundle issued a short-term note to a bank for $40,400 cash.

Required

Compute Rundles working capital before and after issuing the note.

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

		Before the transaction	After the transaction
a.	Working Capital
b.	Current Ratio

On June 30, 2018, Vernon Companys total current assets were $501,000 and its total current liabilities were $278,500. On July 1, 2018, Vernon issued a long-term note to a bank for $39,000 cash.

Required

Compute Vernons working capital before and after issuing the note.

Compute Vernons 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