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On June 30, Year 3. Solomon Company's total current assets were $495,500 and its total current liabilities were $277.500. On July 1, Year 3,
On June 30, Year 3. Solomon Company's total current assets were $495,500 and its total current liabilities were $277.500. On July 1, Year 3, Solomon issued a long-term note to a bank for $40,600 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 1 decimal place.) Before the transaction After the transaction a Working capital Current ratio
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