Grouper Company provides you with the following balance sheet information as of December 31, 2022 

In addition, Grouper reported net income for 2022 of $16,000, income tax expense of $3,200, and interest expense of $1,300. 

a. Compute the current ratio and working capital for Grouper for 2022. 

b. Assume that at the end of 2022, Grouper used $3,000 cash to pay off $3,000 of accounts payable. How would the current ratio and working capital have changed? 

c. Compute the debt to assets ratio and the times interest earned for Grouper for 2022.

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Current liabilities Long-term liabilities Stockholders' equity Total liabilities and stockholders' equity Current assets Long-term assets Total assets $11,500 26,500 $12,000 14,000 $38,000 12,000 $38,000