Exercise 13-7A (Algo) Working capital and current ratio LO 13-2 On June 30, Year 3,...
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Exercise 13-7A (Algo) Working capital and current ratio LO 13-2 On June 30, Year 3, Vernon Company's total current assets were $498,000 and its total current liabilities were $273,000, On July 1. Year 3 , Vernon issued a long-term note to a bank for $41,600 cash Required a. Compute Vernon's working capital before and after issuing the note. b. Compute Vernon's current ratio before and after issuing the note. Note: Round your answers to 1 decimal place
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