During the year 2024 , the following summarized transactions were completed: a. Purchased equipment that cost $19,000; paid $6,500 cash and signed a one-year note for the balance. b. Issued 2,500 additional shares for $15,000 cash. c. Lent $7,500 to a manager, who signed a two-year note. d. Purchased short-term investments for $9,500 in cash. e. Paid $5,500 on the note in transaction (a). f. Borrowed \$12,500 cash on December 31, 2024, from the bank and signed a note, payable June 30, 2025. g. Purchased a patent (an intangible asset) for $3,500 cash. h. Built an addition to the factory for $26,500; paid $9,500 in cash and signed a three-year note for the balance. i. Hired a new president at the end of the year. The contract was for $87,500 per year plus options to purchase company shares at a set price based on company performance. j. Returned defective equipment to the manufacturer, receiving a cash refund of $1,500. 1 \& 2. Post the T-accounts for each of the accounts on the statement of financial position and enter the balances at the end of 2023 as beginning balances for 2024 . 4. Prepare a trial balance at December 31, 2024. 6. Compute the current ratio at December 31, 2024. (Round the final answer to 2 decimal places.)