On January 1, 2021, the general ledger of ACME Fireworks includes the following account balances: During January 2021, the following transactions occur: January 2 sold gift cardn totaling 58,000 . The cards are redeenable for merchandise within one year of the purchase date. January 6 purchase additional inventory on account, $147,000. January 15 Firework sales for the first half of the month total $135,000. A11 of these sales are on account. The cont of the unita aold in 573,800 . January 23 Receive $125,400 from cuntomors on accounta receivable. January 25 Pay $90,000 to inventory auppliors on accounts payable. January 28 Write off accounts receivable as uncollectible, $4,800. January 30 Virovork salea for the second half of the month total $143,000. Sales include \$11,000 for cash and $132,000 on account. The cost of the units sold is $79,500. January 31 pay cain for monthly salaries, 552,000 . ACME FIREWORKS Classified Balance Sheet January 31, 2021 7. Analyze the following for ACME Fireworks Requirement 1: a-1. Calculate the current ratio at the end of January