How would each of the following affect a company's current ratio? To answer this, think specifically about how current assets and/or current liabilities would be affected. - Cash is acquired through the issuance of additional common stock. ANS: - A fixed asset is sold for less than book value. ANS: - A fixed asset is sold for more than book value. ANS: - A cash dividend is declared and paid. ANS: - Current operating expenses are paid. ANS: - Short-term promissory notes are issued to trade creditors in exchange for past due accounts payable. ANS: - 10-year notes are issued to pay off accounts payable. ANS: - A fully depreciated asset is retired. ANS: - Accounts receivable are collected. ANS: - Equipment is purchased with short-term notes. ANS: - Estimated taxes payable are increased. ANS