The chief financial officer (CFO) of Flounder Corporation requested that the accounting department prepare a preliminary balance sheet on December 30, 2025, 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. Flounder Corporation Balance Sheet December 30, 2025 Assets Current assets Cash $22,500 Accounts receivable 29,000 Prepaid insurance 5,200 $56,700 Equipment (net) 180,000 Total assets $236,700 Liabilities and Stockholders' Equity Current liabilities Accounts payable $ 18,000