1. Use the following current asset and current liability section of Company Xs balance sheets at January 31, 2015 and 2014 (in millions):

	January 31, 2015	January 31, 2014
Current Assets
Cash	$5	$2
Accounts Receivable	3	6
Inventories	6	10
Total current assets	$14	$18
Current Liabilities
Note Payable	$3	$3
Accounts Payable	4	1
Other accrued liabilities	2	2
Total current liabilities	$9	$6

1. Calculate the working capital and current ratio at each balance sheet date. Round your current ratio answers to two decimal places.
2. If Company X collected $2 of accounts receivable on January 31, 2015, what impact, if any, would it have on working capital and current ratio calculations?