c-1. Assume the notes payable were due on April 1, 2018, rather than April 1, 2019. Calculate the revised current ratio at the end of January.

c-2. Indicate whether the revised ratio would increase, decrease, or remain unchanged.

Here's the earlier portion of the question. I'm not 100% sure so if you see a mistake, please don't hesitate to let me know!

The only labels my homework software will accept are the following: Current assets, Current liabilities, Fixed assets, Liquid assets, Long-term liabilities, and Quick assets.

c-1. Assume the notes payable were due on April 1, 2018, rather than April 1, 2019. Calculate the revised current ratio at the end of January.

c-2. Indicate whether the revised ratio would increase, decrease, or remain unchanged.

Requirement 1: a-1. Calculate the current ratio at the end of January. Current Ratio Choose Numerator | | Choose Denominator Current Ratio Current assets Current liabilities Current Ratio 225,600|: $ 93,800 2.41 a-2. If the average current ratio for the industry is 1.80, is ACME Fireworks more or less liquid than the industry average? more liquid less liquid Requirement 2: b-1. Calculate the acid-test ratio at the end of January Acid-test Ratio Choose NumeratorChoose Denominator Acid-test Ratio Quick assets Current liabilities Acid-test Ratio 212,400 96,860 2.19 On January 1, 2018, the general ledger of ACME Fireworks includes the following account balances: Debit Credit $25,200 Cash Accounts Receivable Allowance for Uncollectible Accounts 46,400 $ 4,300 20,100 47,000 16,000 Land Equipment Accumulated Depreciation Accounts Payable Notes Payable (6%, due April 1, 2019) Common Stock Retained Earnings 1,600 28,600 51,000 36,000 33,200 Totals $154,700 $154,700 During January 2018, the following transactions occur: January 2. Sold gift cards totaling $8,200. The cards are redeemable for merchandise within one year of the purchase date January 6. Purchase additional inventory on account, $148,000. January 15. Firework sales for the first half of the month total $136,000. All of these sales are on account. The cost of the units sold is $74,300. January 23. Receive $125,500 from customers on accounts receivable January 25. Pay $91,000 to inventory suppliers on accounts payable. January 28. Write off accounts receivable as uncollectible, $4,900 January 30. Firework sales for the second half of the month total $144,000. Sales include $10,000 for cash and $134,000 on account. The cost of the units sold is $80,000 January 31. Pay cash for monthly salaries, $52,100. Requirement 3: c-1. Assume the notes payable were due on April 1, 2018, rather than April 1, 2019. Calculate the revised current ratio at the end of January Current Ratio Choose Numerator Choose Denominator Current Ratio Current Ratio times c-2. Indicate whether the revised ratio would increase, decrease, or remain unchanged Decrease the current ratio Increase the current ratio Remain unchanged