Based on the results above, the CFO requested that $21,380 of cash be used to pay off the balance of the Accounts Payable account on December 31, 2022. Calculate the new current ratio and working capital after the company takes these actions. (Round current ratio to 2 decimal places, eg. 0.50: 1.) Current ratio: :1 Working capital $ The chief financial officer (CFO) of Crane Corporation requested that the accounting department prepare a preliminary balance sheet on December 30, 2022, 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. Crane Corp. Balance Sheet December 30, 2022 Current assets Current liabilities Cash $25,520 Accounts payable $21,380 Accounts receivable 31,900 Salaries and wages payable 11,900 $33,280 Prepaid insurance 6,800 $64,220 Long-term liabilities Equipment (net) 201,860 Notes payable Total assets $266,080 Total liabilities 81,800 C 115,080 Stockholders' equity Common stock Retained earnings Total liabilities and stockholders' equity 100,000 51.000 151,000 $266,080