The chief financial officer (CFO) of Wildhorse Co.requested that the accounting department prepare a preliminary balance sheet on December 20, 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. Wildhorse Co. Balance Sheet December 30, 2022 Current assets Cash $26,300 26,700 Accounts receivable Prepaid insurance 6,400 S59,400 Equipment net] 201.600 Total assets S261.000 Current abilities Accounts payable $ 21,000 12,000 Salaries and wages payable $33,000 Long-term liabilities Notes payable 76,400 Total liabilities 109,400 Stocicholders' equity Common stock 100,000 Retained earnings 51,600 151,600 Total liabilities and stockholders' equity $261,000 Calculate the current ratio and working capital based on the preliminary balance sheet. (Round current ratio to 1 decimal place. eg. 0.7:1) Current ratio Woricing capitals