Question: On June 30, 2018, Rundle Companys total current assets were $496,000 and its total current liabilities were $278,500. On July 1, 2018, Rundle issued a

On June 30, 2018, Rundle Companys total current assets were $496,000 and its total current liabilities were $278,500. On July 1, 2018, Rundle issued a short-term note to a bank for $38,200 cash.

Required

  1. Compute Rundles working capital before and after issuing the note.

  2. Compute Rundles current ratio before and after issuing the note. (Round your answers to 2 decimal places.)

before the transaction after the transaction
working capital
current ratio

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