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*Exercise 14-8 Gwynn Incorporated had the following transactions involving current assets and current liabilities during February 2020. Feb. 3 Collected accounts receivable of $14,400. 7 Purchased equipment for $27,200 cash. 11 Paid $2,700 for a 1-year insurance policy. 14 Paid accounts payable of $11,400. 18 Declared cash dividends, $5,300. Additional information: As of February 1, 2020, current assets were $133,920, and current liabilities were $49,600. Compute the current ratio as of the beginning of the month and after each transaction. (Round answers to 2 decimal places, e.g. 1.67.) Current ratio February 1 : 1 February 3 :1 February 7 : 1 February 11 : 1 February 14 : 1 February 18 :1