Brief Exercise 12-9 Understand the current ratio (LO12-3) Dungy Training Company has a current ratio of 0.70 to 1, based on current assets of $4.55 million and current liabilities of $6.50 million. 1. How, if at all, will a $700,000 cash purchase of inventory affect the current ratio? The current ratio wll 2. How, if at all, will a $700,000 purchase of inventory on account affect the current ratio? The current ratio will