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Following are the current asset and current liability sections of the balance sheets for Aroundsquare Incorporated at August 31, 2023 and 2022 (in millions):
Following are the current asset and current liability sections of the balance sheets for Aroundsquare Incorporated at August 31, 2023 and 2022 (in millions): August 31, August 31, 2023 2022 Current Assets. Cash Marketable securities Accounts receivable: Inventories $ 4 $ 8 10 14 18 11 25 11 Total current assets $ 57 $ 44 Current Liabilities Note payable. $ 4 $ 11 Accounts payable 14 20 Other accrued liabilities 13 10 $ 31 $ 41 Total current liabilities. Required: Calculate the working capital and current ratio at each balance sheet date. Note: Enter "Working capital" in millions of dollars (i.e., 10,000,000 should be entered as 10). Round your "Current ratio" to 2 decimal places. Working capital Current ratio 08/31/2023 08/31/2022
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