Comparing values and setting field values based on that

Is there a way to compare dates in a formula in Workato?

An event has an expiration_date field. In an action, I want to set a status field based on whether the expiration_date has passed. I want to write something like this:

Answer:
Assuming expiration_date is a Date field the formula will work as follows
expiration_date > now ? “Expired” : “Active”

The formula mode supports 'now' and 'today' which return time and date at the time of invocation.

If the expiration_date is a string, then convert the string to time. 
expiration_date.to_time > now ? “Expired” : “Active”
This will work assuming string is in 2015-07-09 11:31:58 -0700 format.

If the string is in custom format, then do the following:
expiration_date.to_time(format: 'MM/DD/YYYY') > now ? “Expired” : “Active”