On June 30, Year 3, Jordan Companys total current assets were $505,000 and its total current liabilities were $279,000. On July 1, Year 3, Jordan issued a short-term note to a bank for $40,000 cash. Required a. Compute Jordans working capital before and after issuing the note. b. Compute Jordans current ratio before and after issuing the note. (Round your answers to 2 decimal places.)

\begin{tabular}{|c|c|c|c|c|} \hline & & \multicolumn{2}{|c|}{Beforethetransaction} & Afterthetransaction \\ \hline a. & Working capital & $ & 226,000 & \\ \hline b. & Current ratio & & 1.80 & \\ \hline \end{tabular}