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These financial statement items are for Blossom Company at year-end, July 31, 2022. Salaries and wages payable Salaries and wages expense Utilities expense Equipment Accounts payable Service revenue Rent revenue Notes payable (due 2024) Common stock Cash Accounts receivable Accumulated depreciation-equipment Dividends Depreciation expense Retained earnings (beginning of the year) $2,500 50,800 22,400 20.800 5,000 62,100 8,000 1.950 19.500 22.500 12,610 5,500 5.700 4,000 34.260 Prepare a classified balance sheet at July 31, 2022. (List Current assets in order of BLOSSOM COMPANY Balance Sheet July 31, 2022 Assets $ Liabilities and Stockholders' Equity Liabilities and Stockholders' Equity $ The chief financial officer (CFO) of Carla Vista Co. requested that the accounting department prepare a preliminary balance sheet on December 30, 2022, so that the CFO could get an idea of how the company stood. He knows that certain debt agreements with its creditors require the company to maintain a current ratio of at least 2:1. The preliminary balance sheet is as follows CARLA VISTA CO. Balance Sheet December 30, 2022 Current assets Current liabilities Cash $21.000 Accounts payable $24.000 Accounts receivable 31,200 Salaries and wages payable 24.000 $48.000 Prepaid insurance 15.000 $67.200 Long-term abilities Property, plant and 217.000 Notes payable 92,000 equipment (net Total liabilities 140,000 Stockholders equity Common stock 120.000 Retained earnings 24.200 144.200 Total liabilities and Total assets $284 200 5284.200 stockholders culty The CFO requested that $24,000 of cash be used to pay off the balance of the accounts payable account on December 31, 2022 Calculate the new current ratio and working capital after the company takes these actions. (Round current ratio to 2 decimal places, es. 15.22) -1 New current ratio New working capital Assistance Used