Exercise 13-12 (Algo) Analyzing effect of transactions on current ratio LO P3 On January 1, 5G Company reported current assets of $208,800 and current liabilities of $174,000. Compute total current assets, total current liabilities, and the current ratio at January 1 and after each of the following transactions. (Round current ratio to two decimal places. Amounts to be deducted should be indicated with a minus sign.) January 5 Purchased equipment to be used in operations for $52,200 cash. January 12 Paid $14,500 cash for accounts payable. January 18 Acquired a building in exchange for a $287,100 long-term note payable, first payment to occur in 3 years. January 22 Purchased $34,800 of merchandise on credit, terms n/45. January 31 Sold outdated machinery for $36,830 cash. Date Current Assets Current Liabilities Current Ratio January 1 January 5 Balance, January 5 0 0 January 12 Balance, January 12 0 0 January 18 Balance, January 18 0 0 January 22 Balance, January 22 January 31 0 0 Balance, January 31 0 0