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Blossom Incorporated had the following transactions involving current assets and current liabilities during February 2022. Feb. 3 Collected accounts receivable of $15,400. 7 Purchased

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Blossom Incorporated had the following transactions involving current assets and current liabilities during February 2022. Feb. 3 Collected accounts receivable of $15,400. 7 Purchased equipment for $28,200 cash. 11 Paid $3,600 for a 1-year insurance policy. 14 Paid accounts payable of $11,100. 18 Declared cash dividends of $5,400. Additional information: As of February 1, 2022, current assets were $133,920, and current liabilities were $49,600. Compute the current ratio as of the beginning of the month and after each transaction. (Round answers to 2 decimal places, eg 167) Current ratio February 1 2.7 :1 February 3 3.01 :1 February 7 3.58 :1 February 11 3.65 :1 February 14 2.98 :1 February 18 3.07 :1

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