On June 30, Year 3, Zachary Company’s total current assets were $503,000 and its total current liabilities were $277,000. On July 1, Year 3, Zachary issued a short-term note to a bank for $40,200 cash. Required a. Compute Zachary’s working capital before and after issuing the note. b. Compute Zachary’s current ratio before and after issuing the note. (Round your answers to 2 decimal places.)
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On June 30, Year 3, Zachary Company’s total current assets were $503,000 and its total current liabi...
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