Bud Caufield Company reported these ratios at December 31, 2018 (dollar amounts in millions): Bud Caufield Company completed these transactions during 2019: (Click the icon to view the transactions.) Current ratio = 520 = 1.50 Debt ratio = $60 = 0.50 Read the requirement. Requirement 1. Determine whether each transaction improved or hurt the company's current ratio and debt ratio. a. Purchased equipment on account, $9.(Review each transaction independently. Round calculations to two decimal places.) Current ratio = current ratio Debt ratio = debt ratio i More Info a. Purchased equipment on account, $9 b. Paid long-term debt, $9 c. Collected cash from customers in advance, $3 d. Accrued interest expense, $2 e. Made cash sales, $11 Print Done