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In its most recent annual report, Appolachian Beverages reported current assets of $54,400 and a current ratio of 1.70 . Assume that the following transactions
In its most recent annual report, Appolachian Beverages reported current assets of $54,400 and a current ratio of 1.70 . Assume that the following transactions were completed: (1) purchased merchandise for $6,200 on account and (2) purchased a delivery truck for $10,000, poying $3,000 cosh and signing a two-yeor promissory note for the balance. Required: Compute the updated current ratio after esch transoction, by showing the cumulative effects of the transoctions in the following toble. (Round your answers to 2 decimal places.)
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