On October 31, 2019, Corona Company's total current assets were $160,000 and its total current liabilities were

Question:

On October 31, 2019, Corona Company's total current assets were $160,000 and its total current liabilities were $40,000. On November 1, 2019, Corona bought manufacturing equipment for $20,000 cash.
Required
a. Compute Corona's working capital before and after the equipment purchase.
b. Compute Corona's current ratio before and after the equipment purchase.