Peyton Company reported these ratios at December 31, 2021 (dollar amounts in millions): Peyton Company complesed these transactions during 2022: Current ratio =$10$20=2.00 Debt ratio =$70$40=0.57 (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 b. Paid long-term debt, $5. 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 Requirement 1. Determine whether each transaction improved or hurt the company's current ratio and debt ratio. b. Paid long-term debt, $5. Currentratio=currentratioDebtratio=debtratio. c. Collected cash from customers in advance, $4. Currentratiocurrentratio=Debtratio=debtratio d. Accrued interest expense, $3. Current ratio = Debt ratio = current ratio debt ratio e. Made cash sales, $7. Current ratio = Debt ratio = current ratio debt ratio