s: Log in to the site X + 29/assignments/5667913 Che chief financial officer (CFO) of Swifty Corporation requested that the accounting department prepare a preliminary tatement of financial position on December 30, 2018, so that the CFO could get an idea of how the company stood. He knows that certain debt agreements with its creditors require the company to maintain a current ratio of at least 2:1. The preliminary tatement of financial position is as follows. Assets Current assets Cash Accounts receivable Prepaid insurance Property, plant, and equipment (net) Total assets SWIFTY CORP. Statement of Financial Position December 30, 2018 Liabilities and Shareholders' Equity Current liabilities $30,500 Accounts payable $25,400 30,500 Salaries payable 15,400 $40.800 11,624 $72,624 Non-current liabilities 188,376 Bank loan payable 79,900 $261,000 Total liabilities 120.700 Shareholders' equity Common shares 100.100 Retained earnings 40,200 140,300 Total liabilities and shareholders' equity $261.000 (a) 2:11 PM ENG courses/38929/assignments/5667913 40,200 140 Retained earnings Total liabilities and shareholders' equity $261. (a) Calculate the current ratio and working capital based on the preliminary statement of financial position at Decemb 2018. (Round current ratio to 1 decimal place, e.g. 2.1.) Current ratio : 1 Working capital $ Save for Later Attempts: 0 of 1 used Submit An (b) The parts of this question must be completed in order. This part will be available when you complete the part above