On June 30, Year 3, Adams Company's total current assets were $496,500 and its total current liabilities were $272,500. On July 1, Year 3, Adams issued a long-term note to a bank for $41,400 cash. Required a. Compute Adams's working capital before and after issuing the note. b. Compute Adams's current ratio before and after issuing the note. Note: Round your answers to 1 decimal place. a. Working capital b. Current ratio Before the transaction After the transaction

On June 30, Year 3, Adams Company's total current assets were $496,500 and its total current liabilities were $272,500. On July 1 , Year 3, Adams issued a long-term note to a bank for $41,400 cash. Required a. Compute Adams's working capital before and after issuing the note. b. Compute Adams's current ratio before and after issuing the note. Note: Round your answers to 1 decimal place