Carla Vista Co.reports the following account balances at December 31, 2022:

Accounts payable

$5,000Accounts receivable

7,400Cash

6,900Intangible assets

22,700Inventory

35,100Long-term investments

23,000Long-term liabilities

111,000Short-term investments

3,600Notes payable (short-term)

12,500Property, plant, and equipment

225,000Prepaid insurance

1,570Salaries and wages payable

3,900Land held for future use

74,000

Compute the company's (a) working capital and (b) current ratio.(Round current ratio to 2 decimal places, e.g. 1.55:1.)