#9

Current Attempt in Progress Blossom Incorporated had the following transactions involving current assets and current liabilities during February 2022. Feb. 3 Collected accounts receivable of $14,000. 7 Purchased equipment for $27,800 cash. 11 Paid $2,300 for a 1-year insurance policy. 14 Paid accounts payable of $12,500. 18 Declared cash dividends of $5,700. Additional information: As of February 1, 2022, current assets were $128,180, and current liabilities were $49,300. Compute the current ratio as of the beginning of the month and after each transaction. (Round answers to 2 decimal places, e.g. 1.67.) Current ratio February 1 :1 February 3 :1 February 7 :1 February 11 :1 February 14 :1 February 18 :1