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On June 30, 2018, Stuart Company's total current assets were $502,500 and its total current liabilities were $275,500. On July 1, 2018, Stuart issued a

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On June 30, 2018, Stuart Company's total current assets were $502,500 and its total current liabilities were $275,500. On July 1, 2018, Stuart issued a short-term note to a bank for $41,000 cash. Required a. Compute Stuart's working capital before and after issuing the note. b. Compute Stuart's 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

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