The Chief Financial Officer(CFO)of Mercato company requested that the accounting department draw up a preliminary balance sheet on December 30, 2021, 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:

Mercato Company

Balance sheet

December 2021

Current Assets

Cash27,000

Accounts Receivable29,700

Prepaid Insurance6,000 $62,700

Equipment (net)$201,200

Total Assets$263,900

Current Liabilities

Accounts Payable$22,000

Salaries & Wages Payable11,000 33,000

Long-term liabilities

Notes Payable79,700

Total Liabilities112,700

Stockholders' Equity

Common Stock 100,000

Retained Earnings51,200 151,200

Total Liabilities and Stockholders' Equity263,900

Based on the preliminary balance sheet above, the current ratio is 1.9 and working capital is 29700.

Based on these results, the CFO requested that $22,000 of cash be used to pay off the balance of the accounts payable account on December 31, 2021. Calculate the new current ratio and working capital after the company takes these actions. (Round current ratio to 1 decimal place, e.g. 0.7 : 1.)