The chief financial officer (CFO) of SandhilI 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 certaindebt agreements withits creditors require the company to maintain a current ratio of at least 2:1. The preliminary balance sheet is as follows. Sandhill Co. Balance Shect December 30,2022 Current assets Cash $26,300 Accounts receivable 28.500 Prepaid insurance 6,000 Equigment (net) Total assets $262,600201,800 Current liabilities Accounts payable 320000 Salaries and wages payable 12,000 $.32.000 Longterm liabilities Notes payable 11080078800 Total liabilities Stocktholders equity Coementstock 100,000 Retained earrings 51,0005262,000151,800 Total liabilities and trockholders' equty Calculate the current ratio and working capital based on the preliminary balance sheet. (Round current ratio to 1 decimal place, e.g. 0.7:1. Current ratio ;1 Working capital