Question: Problem: Module 4 Textbook Problem 3 Learning Objective: 42 Calculate ratios for assessing a company's liquidity On June 30, Year 3, Rundle Company's total current

Problem: Module 4 Textbook Problem 3 Learning Objective: 42 Calculate ratios

Problem: Module 4 Textbook Problem 3 Learning Objective: 42 Calculate ratios for assessing a company's liquidity On June 30, Year 3, Rundle Company's total current assets were $495,500 and its total current liabilities were $280,000. On July 1 , Year 3, Rundle issued a short-term note to a bank for $40,000 cash. Required a. Compute Rundle's working capital before and after issuing the note. b. Compute Rundle's current ratio before and after issuing the note. (Round your answers to 2 decimal places.)

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