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On June 30, Year 3, Solomon Company's total current assets were $504,000 and its total current liabilities were $273,500. On July 1, Year 3,

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On June 30, Year 3, Solomon Company's total current assets were $504,000 and its total current liabilities were $273,500. On July 1, Year 3, Solomon Issued a short-term note to a bank for $41,000 cash. Required a. Compute Solomon's working capital before and after issuing the note. b. Compute Solomon'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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