Question: Exercise 9-7A (Algo) Working capital and current ratio LO 9-2 On June 30, Year 3, Perez Company's total current assets were $502,500 and its

Exercise 9-7A (Algo) Working capital and current ratio LO 9-2 On June

Exercise 9-7A (Algo) Working capital and current ratio LO 9-2 On June 30, Year 3, Perez Company's total current assets were $502,500 and its total current liabilities were $275,500. On July 1, Year 3. Perez issued a long-term note to a bank for $40,600 cash Required a. Compute Perez's working capital before and after issuing the note b. Compute Perez'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 b Current ratio 4

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