Bud Caufield Company reported these ratios at December 31, 2018 (dollar amounts in millions): Current ratio = $20 $10=2.00 Debt ratio = $30 $60 = 0.50 . . . Question content area top right Part 1 Bud Caufield Company completed these transactions during 2019: LOADING... (Click the icon to view the transactions.) Read the requirement LOADING... . Question content area bottom Part 1 Requirement 1. Determine whether each transaction improved or hurt the company's current ratio and debt ratio. a. Purchased equipment on account, $5. (Review each transaction independently. Round calculations to two decimal places.) Current ratio = Debt ratio = current ratio debt ratio Part 2 b. Paid long-term debt, $5. Current ratio = Debt ratio = current ratio debt ratio Part 3 c. Collected cash from customers in advance, $5. Current ratio = Debt ratio = current ratio debt ratio Part 4 d. Accrued interest expense, $7. Current ratio = Debt ratio = current ratio debt ratio Part 5 e. Made cash sales, $12. Current ratio = Debt ratio = current ratio debt ratio