Problem
On June 30, 2018, Perez Company's total current assets were $498,000 and its total current liabilities were $273,500. On July 1, 2018, Perez issued a short-term note to a bank for $40,600 cash.
Required
Compute Perez's working capital before and after issuing the note.
Compute Perez's current ratio before and after issuing the note.