Current assets Cash $26,500 Accounts receivable 32,000 Prepaid insurance 6,900 $ 65,400 Equipment (net) 201,700 Total assets $267,100 Current liabilities Accounts payable $ 21,500 Salaries and wages payable 12,000 $ 33,500 Long-term liabi
Fin-Acc-BossCurrent assets Cash $26,500 Accounts receivable32,000
Prepaid insurance 6,900 $ 65,400 Equipment (net) 201,700
Total assets $267,100 Current liabilities
Accounts payable $ 21,500 Salaries and wages payable 12,000$ 33,500
Long-term liabilities Notes payable81,900 Total liabilities115,400
Stockholders' equity Common stock 100,000 Retained earnings51,700 151,700Total liabilities and stockholders' equity $267,100
Calculate the current ratio and working capital based on the preliminary balance sheet. (Round Current Ratio to 1 decimal place, e.g. 0.7 : 1.
Current ratio :1
Working capital a
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