On June 30, 2018, Franza Company's total current assets were $900,000 and its total current liabilities were

Question:

On June 30, 2018, Franza Company's total current assets were $900,000 and its total current liabilities were $360,000. On July 1, 2018, Franza issued a short-term note to a bank for $72,000 cash.
Required
a. Compute Franza's working capital before and after issuing the note.
b. Compute Franza's current ratio before and after issuing the note. Round ratios to two decimal points.