Problem: Module 4 Textbook Problem 3 Learning Objective: 4-2 Calculate ratios for assessing a company's liquidity On June 30, Year 3, Franklin Company's total current assets were $504,000 and its total current liabilities were $279,500. On July 1, Year 3, Franklin issued a short-term note to a bank for $41,400 cash. Required a. Compute Franklin's working capital before and after issuing the note. b. Compute Franklin's current ratio before and after issuing the note. (Round your answers to 2 decimal places.) Before the transaction After the transaction a. Working capital b. Current ratio