Problem: Module 4 Textbook Problem 3 Learning Objective: 4-2 Calculate ratios for assessing a company's liquidity On June 30, Year 3, Adams Company's total current assets were $502,500 and its total current liabilities were $278,000. On July 1, Year 3, Adams issued a short-term note to a bank for $38,400 cash. Required a. Compute Adams's working capital before and after issuing the note. b. Compute Adams's current ratio before and after issuing the note. (Round your answers to 2 decimal places.) a b Answer is complete but not entirely correct. Before the transaction After the transaction $ 224,500 S Working capital Current ratio 262,900 00 X 1.71

Problem: Module 4 Textbook Problem 3 Leorning Objective: 4-2 Colculate rotios for assessing a compony's liquidity On June 30, Year 3. Adams Company's total current assets were $502.500 and its total current liabulites were $278.000.0 n July 1. Year 3. Adamis issued a short-terml noie to a bank for $38,400 cash Required o. Compute Adams's working copital beforeand atter issuing the note. b. Compute Adams's current ratlo before and afterissuing the note. (Round your onswers to 2 decimal ploces.) Answer is complete but not entirely correct