Exercise 13-7A (Algo) Working capital and current ratio LO 132 On June 30, Year 3, Vernon Company's total current assets were $503,500 and its total current liabilities were $277,000. On July 1 , Year 3 , Vernon issued a long-term note to a bank for $40,200 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