Calculate the effects of business transactions on selected ratos Financial statement data for Tarrant, Inc. include the following items: Cash Short-term investments Accounts receivable. net Inventories Prepaid expenses Total assets $22.000 33,000 87,000 145,000 9,0001 $675,000 Short-term note payable Accounts payable Accured liabilities Long-term notes payable Other long-term liabilities Net Income Number of common shares outstanding $44.000 102,000 37,000 162,000 32.000 $95.000 50.000 Requirements: 1. Cachuate Tarrant, Inc. Current ratio, debt ratiom and earnings per share. Round all ratios to decimal places. 2. Calculate the three ratios after evaluating the effect of each transaction that follows. Consider each transaction separately. (a) Borrowed $140,000 on a long-term note payable (6) On January 1, issued 30.000 shares of common stock, receiving cash of $367,000 (c) Paid off short-term notes payable. $27,000. (d) Purchased $41,000 of merchandise on account, debiting inventory (e) Received cash on account. $15,000