Required information Business Sim Corp. (BSC) issued 1,000 common shares to Kelly in exchange for $11,000. BSC borrowed $32,000 from the bank, promising to repay it in two years. BSC paid $37,000 for computer equipment with check number 101 and signed a note for $4,000 due in six months. BSC received $550 of supplies purchased on account. BSC's loan contains a clause ("covenant") that requires BSC to maintain ratio of current assets to current liabilities of at least 1.3. 4-a. Calculate the current ratio of BSC. 4-b. Whether BSC is complying with or violating its loan covenant. Complete this question by entering your answers in the tabs below. Reg 4A Reg 4B Calculate the current ratio of BSC. Current Ratio Numerator Denominator Required information Business Sim Corp. (BSC) issued 1,000 common shares to Kelly in exchange for $11,000. BSC borrowed $32,000 from the bank, promising to repay it in two years. BSC paid $37,000 for computer equipment with check number 101 and signed a note for $4,000 due in six months. BSC received $550 of supplies purchased on account. BSC's loan contains a clause ("covenant") that requires BSC to maintain a ratio of current assets to current liabilities of at least 1.3. 4-a. Calculate the current ratio of BSC. 4-b. Whether BSC is complying with or violating its loan covenant. Complete this question by entering your answers in the tabs below. Reg 4A Req 4B Whether BSC is complying with or violating its loan covenant. BSC is loan covenant.