Financial statement data of Greatland Engineering include the following items: Cash: $21,000 Short-term investments: 33,000 Accounts receivable, net: 85,000 Inventories: 143,000 Prepaid expenses: 8,000 Total assets: 676,000 Short-term notes payable: 41,000 Accounts payable: 103,000 Accrued liabilities: 31,000 Long-term notes payable: 163,000 Net income: 98,000 Number of CSO: 45,000 (*CSO= Common shares outstanding) Read the requirements. 1. Compute Greatlands current ratio, debt ratio, and earnings per share. Round all ratios to two decimal places. 2. Compute the three ratios after evaluating the effect of each transaction that follows. CONSIDER AND SOLVE EACH TRANSACTION SEPARATELY. a. Borrowed $100,000 on a long-term note payable. b. On January 1, issued 30,000 shares of common stock, receiving cash of $360,000. c. Paid short-term note payable, $26,000. d. Purchased merchandise of $46,000 on account, debiting Inventory. e. Received cash on account, $24,000.