Exercise 13-7A (Algo) Working capital and current ratio LO 13-2 On June 30. Year 3, Fanning Company's total current assets were $499,000 and its total current liabilities were $273,000. On July 1, Year 3. Fanning issued a long-term note to a bank for $39,400 cash, Required 3. Compute Fanning's working capital before and after issuing the note. b. Compute Fanning's current ratio before and after issuing the note. (Round your answers to 1 decimal place.) Before the transaction After the transaction 6. Working capital B. Current ratio