Sheridan Company provides you with the following balance sheet information as of December 31, 2022. Current assets $13,110 Current liabilities $13,680 Long-term assets 31,270 Long-term liabilities 17,020 Total assets $44,380 Stockholders' equity 13,680 Total liabilities and stockholders' equity $44,380 In addition, Sheridan reported net income for 2022 of $18,240, income tax expense of $3,648, and interest expense of $1,482. (a) Your answer is correct. Compute the current ratio and working capital for Sheridan for 2022. (Round current ratio to 2 decimal places, e.g. 2.75. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) (b) Current ratio Working capital eTextbook and Media .96 :1 -570 Attempts: unlimited Assume that at the end of 2022, Sheridan used $3,420 cash to pay off $3,420 of accounts payable. Compute the new ratios. (Round current ratio to 2 decimal places, e.g. 2.75. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Current ratio Working capital $ :1