On June $30,$ Year $3,$ Fanning Company$$s total current assets were

$$497,000$ and its total current liabilities were $$274,000.$ On July

$1,$ Year $3,$ Fanning issued a$$short$-$term note$$to abank for $$40,600$ cash. Required$$

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.$)$