The chief financial officer (CFO) of Carla Vista Co. requested that the accounting department prepare a preliminary balance sheet on December 30, 2022, 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 balance sheet is as follows. Carla Vista Co. Balance Sheet December 30, 2022 Current assets Cash 26,000 Accounts receivable 39,800 Prepaid insurance 6,800 72,600 Equipment (net) 201,300 Total assets $ 273,900 Current liabilities Accounts payable $ 21,000 Salaries and wages payable 12,000 33,000 Long-term liabilities Notes payable 89,600 Total liabilities 122,600 Stockholders' equity Common stock 100,000 Retained earnings 51.300 151,300 Total liabilities and stockholders equity $ 273.900 Calculate the current ratio and working capital based on the preliminary balance sheet. (Round current ratio to 1 decimal place, c.3, 0.7:1) :1 Current ratio Working capital $