Sunland Company has these account balances at December 31, 2022:
Notes payable ($60,500 due after 12/31/23) $103,000
Unearned service revenue $70,500
Other long-term debt ($90,500 due in 2023) $247,500
Salaries and wages payable $32,000
Accounts payable $64,000
In addition, Sunland is involved in a lawsuit. Legal counsel feels it is probable Sunland will pay damages of $24,000 in 2023.
(A) Prepare the current liabilities section on Sunland's December 31, 2022 balance sheet.
(B) Sunland's current assets are $569,360. Compute Sunland's working capital and current ratio. (Round current ratio to 2 decimal places)