On June 30, Year 3, Benson Company's total current assets were $503,000 and its total current liabilities were $272,000. On July 1, Year 3. Benson issued a short-term note to a bank for $39,000 cash.

Required

1. Compute Benson's working capital before and after issuing the note.
2. Compute Benson's current ratio before and after issuing the note. Note: Round your answers to 2 decimal places.

On June 30, Year 3, Benson Company's total current assets were $503,000 and its total current liabilities were $272,000. On July 1 , Year 3 , Benson issued a short-term note to a bank for $39,000 cash. Required a. Compute Benson's working capital before and after issuing the note. b. Compute Benson's current ratio before and after issuing the note. Note: Round your answers to 2 decimal places. Answer is complete but not entirely correct