Exercise $13-7$A $($Algo$)$ Working capital and current ratio LO $13-2$

On June $30,$ Year $3,$ Solomon Company's total current assets were $$496,500$ and its total current liabilities were $$277,500.$ On July $1,$ Year $3,$ Solomon issued a long$-$term note to a barik for $$40,800$ cash.

Required

a$.$ Compute Solomon's working capital before and after issuing the note.

b$.$ Compute Solomon's current ratio before and after issuing the note.

Note: Round your answers to $1$ decimal place.

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