Listed in the right- hand column below are certain financial ratios. To the left of each ratio is a business transaction or event relating to the operating activities of Candice Inc., an exporter of ceramic tile.

Required
Indicate the impact of the transaction on the corresponding ratio (increase, decrease or no effect).

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Business Transaction or Event 1. The company declared a cash dividend. 2. The company sold inventory on account. 3. The company's net income decreased by 4% between last year and this year. Long-term debt remained unchanged. 4. A previously declared cash dividend was paid. 5. Obsolete inventory totaling $56,000 was written off at a loss. 6. The company sold inventory for cash at a profit. 7. The company issued common stock for cash. 8. The company paid $6,000 on accounts payable. 9. The company purchased inventory on credit terms. 10. The market price of the company's common stock increased from $23.50 to $36.20. Earnings per share remained unchanged. Ratio Current ratio Acid-test (quick) ratio Times interest earned Current ratio Inventory turnover ratio Debt-to-equity ratio. Earnings per share Current ratio Acid-test (quick) ratio Price-earnings ratio