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E13-13 Analyzing the Impact of Selected Transactions on the Current Ratio (LO4, LO5) SportChek is Canada's largest retailer of sporting goods and sports apparel and
E13-13 Analyzing the Impact of Selected Transactions on the Current Ratio (LO4, LO5) SportChek is Canada's largest retailer of sporting goods and sports apparel and footwear, with over 130 stores across the country. Assume one of the SportChek stores reported current assets of $94,000 and its current ratio was 1.69. Assume that the following transactions were completed: a. Pald $5,400 on accounts payable. b. Purchased a delivery truck for $13,000 cash. c. Wrote off a bad account receivable for $1,400. d. Pald previously declared dividends in the amount of $31,000. Required: Compute the updated current ratio. (Round your answers to 2 decimal places.) Current Ratio Transaction a Transaction b Transaction Transaction de
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