Columbia Sportswear Company reported the following in recent balance sheets (amounts in millions). December 31, 2018 (in millions) Assets. Current Assets Cash Accounts Receivable Inventory Prepaid Rent Total Current Assets Software Equipment Total Assets Liabilities and Shareholders' Equity Liabilities Current Liabilities Accounts Payable Notes Payable (short-term) Income Tax Payable Total Current Liabilities. Notes Payable (long-term) Total Liabilities Stockholders' Equity Common Stock Retained Earnings Total Shareholders' Equity Total Liabilities and Shareholders' Equity June 30, 2019 $ 524 281 756 101 1,662 318 682 $ 2,662 $ 511 61 6 578 429 1,007 1 1,654 1,655 $ 2,662 $ 714 449 522 80 1,765 292 312 $ 2,369 $ 550 0 23 573 105 678 1 1,690 1,691 $ 2,369 Required: 1. Calculate the current ratio at June 30, 2019, and December 31, 2018. 2-a. Did the company's current ratio increase or decrease? 2-b. What does this imply about the company's ability to pay its current liabilities as they come due? 3-a. What would Columbia's current ratio have been on June 30, 2019, if the company were to have paid down $10 (million) of its Accounts Payable? 3-b. Does paying down Accounts Payable in this case increase or decrease the current ratio? 4. Are the company's total assets financed primarily by liabilities or stockholders' equity at June 30, 2019? Complete this question by entering your answers in the tabs below. Req 1 Req 2A Numerator Denominator Re28 Req 3A Req 38 Req 4 Calculate the current ratio at June 30, 2019, and December 31, 2018. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) Current Ratio June 30, 2019 C Reg1 December 31, 2018 Req 2A > 1. Calculate the current ratio at June 30, 2019, and December 31, 2018. 2-a. Did the company's current ratio increase or decrease? 2-b. What does this imply about the company's ability to pay its current liabilities as they come due? 3-a. What would Columbia's current ratio have been on June 30, 2019, if the company were to have paid down $10 (million) of its Accounts Payable? 3-b. Does paying down Accounts Payable in this case increase or decrease the current ratio? 4. Are the company's total assets financed primarily by liabilities or stockholders' equity at June 30, 2019? Complete this question by entering your answers in the tabs below. Req 1 Req 3A Did the company's current ratio increase or decrease? Increase Decrease Req 2A Req 28 < Req1 Req 38 Req 4 Req 28 > Required: 1. Calculate the current ratio at June 30, 2019, and December 31, 2018. 2-a. Did the company's current ratio increase or decrease? 2-b. What does this imply about the company's ability to pay its current liabilities as they come due? 3-a. What would Columbia's current ratio have been on June 30, 2019, if the company were to have paid down $10 (million) of its Accounts Payable? 3-b. Does paying down Accounts Payable in this case increase or decrease the current ratio? 4. Are the company's total assets financed primarily by liabilities or stockholders' equity at June 30, 2019? Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 2B Req 3A What does this imply about the company's ability to pay its current liabilities as they come due? Increased ability to pay current liabilities. Decreased ability to pay current liabilities. Req 38 < Req 2A Req 4 Req 3A > 1. Calculate the current ratio at June 30, 2019, and December 31, 2018. 2-a. Did the company's current ratio increase or decrease? 2-b. What does this imply about the company's ability to pay its current liabilities as they come due? 3-a. What would Columbia's current ratio have been on June 30, 2019, if the company were to have paid down $10 (million) of its Accounts Payable? 3-b. Does paying down Accounts Payable in this case increase or decrease the current ratio? 4. Are the company's total assets financed primarily by liabilities or stockholders' equity at June 30, 2019? Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 28 Red 3A Req 38 Req 4 What would Columbia's current ratio have been on June 30, 2019, if the company were to have paid down $10 (million) of its Accounts Payable? (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) Numerator Denominator Current Ratio < Req 28 Req 30 > 1. Calculate the current ratio at June 30, 2019, and December 31, 2018. 2-a. Did the company's current ratio increase or decrease? 2-b. What does this imply about the company's ability to pay its current liabilities as they come due? 3-a. What would Columbia's current ratio have been on June 30, 2019, if the company were to have paid down $10 (million) of its Accounts Payable? 3-b. Does paying down Accounts Payable in this case increase or decrease the current ratio? 4. Are the company's total assets financed primarily by liabilities or stockholders' equity at June 30, 2019? Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 28 Req 38 Does paying down Accounts Payable in this case increase or decrease the current ratio? Increases the current ratio. Decreases the current ratio. Req 3A < Req 3A Reg 4 Reg 4 > Required: 1. Calculate the current ratio at June 30, 2019, and December 31, 2018. 2-a. Did the company's current ratio increase or decrease? 2-b. What does this imply about the company's ability to pay its current liabilities as they come due? 3-a. What would Columbia's current ratio have been on June 30, 2019, if the company were to have paid down $10 (million) of its Accounts Payable? 3-b. Does paying down Accounts Payable in this case increase or decrease the current ratio? 4. Are the company's total assets financed primarily by liabilities or stockholders' equity at June 30, 2019? Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 28 Liabilities: Stockholders' Equity Req 3A Req 3B Are the company's total assets financed primarily by liabilities or stockholders' equity at June 30, 2019?