the 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 statement of financial position is as follows. Assets Current assets Cash Accounts receivable Prepaid insurance Property, plant, and equipment (net) Total assets BRIDGEPORT CORP Statement of Financial Position December 30, 2018 Liabilities and Shareholders' Equity Current liabilities $30,800 Accounts payable $25,100 30.800 Salaries payable 15,100 $40.200 7,946 $69,546 Non-current liabilities 191.454 Bank loan payable 80,400 $261,000 Total liabilities 120,600 Shareholders' equity Common shares 100.200 Retained earnings 40,200 140.400 Total liabilities and shareholders' equity $261,000 (a) Your answer has been saved. See score details after the due date. Calculate the current ratio and working capital based on the preliminary statement of financial position at December 30, 2018. (Round current ratio to 1 decimal place, 6.2.1.) Current ratio 1.7 : 1 Working capitals 29346 (b) Based on the results in (a), the CFO requested that $25,800 of cash be used to pay some of the balance of the accounts payable account on December 31, 2018. Calculate the new current ratio and working capital after the company takes these actions. (Round current ratio fo 1 decimal place, 8.2.1.) Current ratio Working capital $