C4-30 Capstone analytical review of Chapters 2-4. Calculate liquidity and profitability measures and explain various financial statement relationships for an excavation contractor LO 6, 7

[The following information applies to the questions displayed below.]

Gerrard Construction Co. is an excavation contractor. The following summarized data (in thousands) are taken from the December 31, 2016, financial statements:

For the Year Ended December 31, 2016:
Net revenues	$	64,400
Cost of services provided		22,800
Depreciation expense		13,000
Operating income	$	28,600
Interest expense		7,600
Income tax expense		6,400
Net income	$	14,600
At December 31, 2016:
Assets
Cash and short-term investments	$	5,600
Accounts receivable, net		19,600
Property, plant, and equipment, net		154,800
Total assets	$	180,000
Liabilities and Stockholders Equity
Accounts payable	$	3,000
Income taxes payable		3,200
Notes payable (long term)		95,000
Paid-in capital		20,000
Retained earnings		58,800
Total liabilities and stockholders equity	$	180,000

At December 31, 2015, total assets were $164,000 and total stockholders equity was $65,200. There were no changes in notes payable or paid-in capital during 2016.

g-1. Calculate the amount of working capital and the current ratio at December 31, 2016. (Enter your answers in whole dollars (Example - enter 20,000,000 and not 20,000). Round your ratio answer to 2 decimal places. (e.g., 32.16))

Working capital
Current ratio