K Peyton Company reported these ratios at December 31, 2021 (dollar amounts in millions): $20 $40 Current ratio = =2.00 $10 Debt ratio = = 0.57 $70 Peyton Company completed these transactions during 2022 (Click the icon to view the transactions.) Read the requirement Requirement 1. Determine whether each transaction improved or hurt the company's current ratio and debt ratio. a. Purchased equipment on account, $5. (Review each transaction independently. Round calculations to two decimal places.) Current ratio= current ratio Debt ratio= debt ratio b. Paid long-term debt, $5. More info a. Purchased equipment on account, $5 b. Paid long-term debt, $5 c. Collected cash from customers in advance, $4 d. Accrued interest expense, $3 e. Made cash sales, $7 Print Done - X Requirement 1. Determine whether each transaction improved or hurt the company's current ratio and debt ratio. Print Done - Requirement 1. Determine whether each transaction improved or hurt the company's current ratio and debt ratio. a. Purchased equipment on account, $5. (Review. each transaction independently. Round calculations to two decimal places.) Current ratio current ratio b. Paid long-term debt, $5. Debt ratio debt ratio b. Paid long-term debt, $5. Current ratio= current ratio Debt ratio= c. Collected cash from customers in advance, $4. Current ratio= debt ratio I Debt ratio = current ratio d. Accrued interest expense, $3. Current ratio= debt ratio Debt ratio current ratio debt ratio e. Made cash sales, $7. . PROTOOL D. Current ratio= current ratio e. Made cash sales, $7. Debt ratio= debt ratio: Current ratio= Debt ratio= current ratio debt ratio