• On January 1, 5G company reported current assets of $72,000 and current liabilities of $60,000. Compute total current assets, total current liabilities, and the current ratio at January 1 and after each of the following transactions. Jan 5 Purchased equipment $18,000 cash Jan 12 Paid $5,000 cash for accounts payable Jan 18 Acquired $99,000 long-term note payable Jan 22 Purchased $12,000 merchandise on credit, term n/45 Jan 31 Sold machinery for $12,700 cash