3 At its prior year-end, VPN Company reported current assets of $68,500 and current liabilities of $58,400. 1. Acquired inventory for $540 cash. 2. Sold a long-term asset (equipment) for $5,700 cash. 3. Accrued wages payable of $3,200. eBook Determine how each of the above transactions would increase, decrease, or have no effect on total current assets, total current liabilities, and the current ratio. References Transaction Current Assets Current Liabilities Current Ratio 1. 2. 3