Cullumber Boutique reported the following financial data for 2022 and 2021. 2021 Cullumber Boutique Balance Sheet (partial) September 30 (in thousands) 2022 Current assets Cash and short-term deposits $2,620 Accounts receivable 2,200 Inventories 1,250 Other current assets 370 Total current assets $6,440 Current liabilities $4,550 $1,070 1,630 1,060 240 $4,000 $2,670 (a) Your answer is correct. Calculate the current ratio for Cullumber Boutique for 2022 and 2021. (Round answers to 2 decimal places, e.g. 1.25:1) 2022 2021 Current ratio 1.41 :1 1.50:1 (b) Your answer is incorrect. Suppose that at the end of 2022, Cullumber Boutique used $1.50 million cash to pay off $1.50 million of accounts payable. How would its current ratio change? (Round answer to 2 decimal places, e.g. 1.25:1) Current ratio :1