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Required information [The following information applies to the questions displayed below.] Business Sim Corporation (BSC) entered into the following four transactions: (a) Issued 2,000 common shares to Kelly in exchange for $27,000. (b) Borrowed $48,000 from the bank, promising to repay it in two years. (c) Bought computer equipment by signing check number 101 in the amount of $53,000 and signing a promissory note for $8,000 due in six months. This loan contains a clause ("covenant") that requires Business Sim Corporation (BSC) to maintain a ratio of current assets to current liabilities of at least 2.4. (d) Received $1,350 of supplies and promised to pay for them in 30 days. 4-a. Calculate the current ratio of Business Sim Corporation (BSC). 4-b. Is Business Sim Corporation (BSC) complying with or violating its loan covenant? Complete this question by entering your answers in the tabs below. Is BSC complying with or violating its loan covenant? Required information [The following information applies to the questions displayed below.] Business Sim Corporation (BSC) entered into the following four transactions: (a) Issued 2,000 common shares to Kelly in exchange for $27,000. (b) Borrowed $48,000 from the bank, promising to repay it in two years. (c) Bought computer equipment by signing check number 101 in the amount of $53,000 and signing a promissory note for $8,000 due in six months. This loan contains a clause ("covenant") that requires Business Sim Corporation (BSC) to maintain a ratio of current assets to current liabilities of at least 2.4. (d) Received $1,350 of supplies and promised to pay for them in 30 days. 4-a. Calculate the current ratio of Business Sim Corporation (BSC). 4-b. Is Business Sim Corporation (BSC) complying with or violating its loan covenant? Complete this question by entering your answers in the tabs below. Calculate the current ratio of BSC

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