Return to question Exercise 9-7 Working capital and current ratio LO 9-2 On June 30, 2018, Franklin Company's total current assets were $503,000 and its total current liabilities were $276,000. On July 1, 2018, Franklin issued a long-term note to a bank for $38,400 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 1 decimal place.) Answer is complete but not entirely correct. Before the transaction After the transaction a. Working Capital Current Ratio $ 227,000 $ 227,000 b. 1.8 1.7 X