292. The latest balance sheet for Hosbridge Corp shows: Hoxbridge Corp. Comparative Balance sheet December 3, Years 1-2 year2. year 1 Cash. $26,000 $27,000

Temporary $ 36000. $ 24000 investments

Accounts. $ 48000. $ 23000 receivable (net)

Merchandise. $ 56000. $ 54000 inventory

Prepaid insurance $ 5,000 $12,000

Long-term. $ 42000. $ 19000 investments

Equipment (net)$ 143000. $ 132000

Land. $ 24000 $ 24000

Patents. $ 26000 $26000

Total Assets. $ 406,000 $ 341,000

Current liabilities $69000. $ 46000

Notes Payable. $ 44000. $ 31,000

Common shares $154,000 $154000

Retained eamings$139,000 $ 110,000

Total Liabilities $ 406000. $ 341,000 and Equity.

(a) Calculate the current ratio for Hoshridge.

(b) Calculate the amount of Hoxbridge's working capital.