Andrew Smith prepared the following balance sheet at December 31, 2002. He is planning to apply for a loan at the Bank of Nova Scotia in the hope of buying a new delivery truck. Smith Delivery Service Balance Sheet December 31, 2022 Cash Accounts receivable $800 Accounts payable 600 400 Salaries and wages payable 200 Supplies 100 Note payable 12,100 Prepaid insurance 900 Total liabilities 12,900 Equipment $23,000 Common stock 5,200 Less: Accumulated Retained earnings 1,100 depreciation (6,000) 17,000 Total stockholders' equity 6,300 Total liabilities and Total assets $19.200 stockholders' equity $19.200 *The note is due in monthly installments of $450. Required #1: Compute the company's current ratio. Current Ratio= Current Assets/current liabilities Current Ratio = $2200/$6200 Current Ratio = 11:31 Require #2: Compute the company's debt to equity ratio. Required #3: Do you think Andrew will get the loan to buy a new delivery truck? Why or why not.