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Crane Incorporated had the following transactions involving current assets and current liabilities during February 2025. Feb. 3 Collected accounts receivable of $17,500. 7 Purchased equipment
Crane Incorporated had the following transactions involving current assets and current liabilities during February 2025. Feb. 3 Collected accounts receivable of $17,500. 7 Purchased equipment for $28,800 cash. 11 Paid $2,900 for a 1-year insurance policy. 14 Paid accounts payable of $14,700. 18 Declared cash dividends of $4,600. Additional information: As of February 1, 2025, current assets were $134,400 and current liabilities were $32,000. Compute the current ratio as of the beginning of the month and after each transaction. (Round answers to 2 decimal places, e.g. 1.83:1 Current ratio as of February 1, 2025 :1 Feb. 3 :1 Feb. 7 :1 Feb. 11 :1 Feb. 14 :1 Feb. 18 :1
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