On June 30, Year 3, Baird Company's total current assets were $498,500 and its total current liabilities were $278,500. On July 1, Year 3, Baird Issued a long-term note to a bank for $40,200 cash. Required a. Compute Baird's working capital before and after Issuing the note. b. Compute Baird's current ratio before and after Issuing the note. (Round your answers to 1 decimal place.) Before the transaction Answer is complete but not entirely correct. After the transaction Working a. $ 220,000 $ 220,000 capital b. Current ratio 1.8 1.7 x