Working Capital and Current Ratio The following data (in thousands) were taken from recent financial statements of Under Armour, Inc.: December 31 Year 2 Year 1 $ Current assets $ 76,779 106,279 Current liabilities 28,042 20,751 a. Compute the working capital and the current ratio as of December 31, Year 2 and Year 1. Enter working capital amounts in thousands of dollars. Round "current ratio" answers to two decimal places. December 31 Year 2 Year 1 Working capital $ Current ratio b. What conclusions concerning the company's ability to meet its financial obligations can you draw from part (a)? Under Armour's working capital increased by $ during Year 2. The current ratio increased in Year 2. Because Year 2's current ratio indicates a strong liquidity position, the short-term creditors should not be concerned about receiving payment from Under Armour