Exercise 9-6A (Algo) Working capital and current ratio LO 9-2 On June 30, Year 3, Fanning Company's total current assets were $499,500 and its total current liabilities were $271,500. On July 1. Year 3, Fanning issued a short-term note to a bank for $41,600 cash. Required a. 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 2 decimal places.) a Working capital b. Current ratio Before the transaction After the transaction