Practice Do It! Review 2 Blue Spruce Company provides you with the following balance sheet information as of December 31, 2019. Current assets Long-term assets $11,300 25,950 Current liabilities Long-term liabilities Stockholders' equity Total liabilities and stockholders' equity $13,400 10,450 13,400 $37,250 Total assets $37,250 In addition, Blue Spruce reported net income for 2019 of $16,400, income tax expense of $3,200, and interest expense of $1,250. (Round ratios to 2 decimal places, e.g. 2.75:1. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) (a) Compute the current ratio and working capital for Blue Spruce for 2019. Current ratio .8432 :1 Working capital -2100 (b) Assume that at the end of 2019, Blue Spruce used $3,000 cash to pay off $3,000 of accounts payable. How would the current ratio and working capital have changed? Current ratio Working capital