Question 6 View Policies Current Attempt in Progress At December 31, 2019, Nancy Jackson Corporation reported current assets of $337,720 and current liabilities of $181,600. The following items may have been recorded incorrectly. 1. Goods purchased costing $22,360 were shipped fo.b. shipping point by a supplier on December 28. Jackson received and recorded the invoice on December 29, 2019, but the goods were not included in Jackson's physical count of inventory because they were not received until January 4, 2020. 2. Goods purchased costing $14,170 were shipped fo.b. destination by a supplier on December 26. Jackson received and recorded the invoice on December 31, but the goods were not included in Jackson's 2019 physical count of inventory because they were not received until January 2, 2020, 3. Goods held on consignment from Claudia Kishi Company were included in Jackson's December 31, 2019, physical count of inventory at $12,620. 4. Freight-in of $2,750 was debited to advertising expense on December 28, 2019. Compute the current ratio based on Jackson's balance sheet. (Round ratio to 2 decimal places, e.g. 2.31:1.) The current ratio eTextbook and Media Recompute the current ratio after corrections are made. (Round ratio to 2 decimal places, e.g. 2.31:1.) The current ratio eTextbook and Media By what amount will income (before taxes) be adjusted up or down as a result of the corrections? Assume that goods are sold in item #4. Adjust Income $ eTextbook and Media