Porter Products Recognizes Expenses for Wages and Interest When Cash

Porter Products recognizes expenses for wages and interest when cash payments are made. The following related cash payments were made during December 2017:
$\begin{array}{|l|l|}\hline \text { December } 5 \& 20 &\text { Wages in the amount of } \$ 15,000 \text { are paid on the } 5^{\text {th }} \text { and the } 20^{\text {th }} \text { of } \\&\text { each month for the fifteen days just ended. The next payment will } \\&\text { be on January } 5,2018 .\\\hline \text { December 15 } &\text { Paid a semi-annual } \$ 300 \text { interest payment on an outstanding note } \\&\text { payable with a face value of } \$ 10,000 \text { and a } 6 \text { percent annual } \\&\text { interest rate. }\\\hline \end{array}$
As of December 31, the current assets and current liabilities reported on Porter's balance sheet were $36,000 and $22,500, respectively. Porter's income statement reported net income of $11,250.
Required: Compute Porter's current ratio and net income if the company were to account for wages and interest on an accrual basis.