292. The latest balance sheet for Hoxbridge Corp shows: Hoxbridge Corp. Comparative Balance sheet December 31, Years 1-2 Year 2 Cash $26,000 Year 1 $27,000 Temporary investments 36,000 24,000 Accounts receivable (net) 48,000 23,000 Merchandise inventory 56,000 54,000 Prepaid insurance 5,000 12,000 Long-term investments 42,000 19,000 Equipment (net) Land Patents Total Assets Current liabilities Notes Payable Common shares 143,000 132,000 24,000 24,000 26,000 26,000 $406,000 $341,000 $69,000 $46,000 44,000 31,000 154,000 154,000 Retained earnings Total Liabilities and Equity 139,000 110,000 $406,000 $341,000 (a) Calculate the current ratio for Hoxbridge. (b) Calculate the amount of Hoxbridge's working capital