Keener Incorporated had the following transactions occur involving current assets and current liabilities during February 2017. Accounts receivable of $14,400 are collected Feb. 3 7 Equipment is purchased for $27,200 cash. Paid $2,700 for a 1-year insurance policy. 11 Accounts payable of $11,400 are paid. 14 Cash dividends of $5,300 are declared. 18 Additional information: As of February 1, 2017, current assets were $132,200, and current liabilities were $49,600. 1. As of February 1, 2017, current assets included $15,200 of inventory and $1,400 of prepaid expenses. 2. Compute the current ratio as of the beginning of the month and after each transaction (a) Compute the acid-test ratio as of the beginning of the month and after each transaction () (Round answers to 1 decimal place, e.g. 1.6.) Current ratio Acid-test ratio February 2.71 2.31 X February 3 3.01 2.61 X X February 7 2.41 2.11 X X February 2.5 1 2.0:1 X February 14 2.81 2.3 1 February 18 :1 :1