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On June 30, Year 3, Rundle Company's total current assets were $502,500 and its total current liabilities were $277,000. On July 1, Year 3, Rundle
On June 30, Year 3, Rundle Company's total current assets were $502,500 and its total current liabilities were $277,000. On July 1, Year 3, Rundle issued a long-term note to a bank for $39,800 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. Note: Round your answers to 1 decimal place. a. Working capital b. Current ratio Before the Transaction After the Transaction
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