The chief financial officer (CFO) of Bridgeport Corporation requested that the accounting department prepare a preliminary statement of financial position on December 30, 2016, 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 statement of financial position is as follows. BRIDGEPORT CORR Statement of Financial Position December 30, 2018 Assets Liabilities and Shareholders' Equity Current assets Current liabilities Cash $30,800 Accounts payable $25,100 Accounts receivable 30.800 Salaries payable 15,100 $40,200 Prepaid insurance 7.946 $69,546 Non-current liabilities Property, plant, and equipment (net) 191.454 Bank loan payable 80,400 Total assets $261.000 Total liabilities 120,600 Shareholders' equity Common shares 100 200 Retained earnings 40.200 140.400 Total liabilities and shareholders' equity $261,000 (a) Calculate the current ratio and working capital based on the preliminary statement of financial position at December 30, 2018. (Round current ratio to 1 decimal place, 2.1.) Current ratio :1 Working capitals