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More info a. Purchased equipment on account, $6 b. Paid long-term debt, $9 c. Collected cash from customers in advance, $4 d. Accrued interest expense, $3 e. Made cash sales, \$9 Requirement 1. Determine whether each transaction improved or hurt the company's current ratio and debt ratio. Burt Wilson Company reported these ratios at December 31,2018 (dollar amounts in millions): Current ratio =$20$30=1.50 Debt ratio =$60$30=0.50 Requirement 1. Determine whether each transaction improved or hurt the company's current ratio and debt ratio. a. Purchased equipment on account, \$6. (Review each transaction independently. Round calculations to two decimal places.) CurrentratiocurrentratioDebtratio=debtratio b. Paid long-term debt, $9. c. Collected cash from customers in advance, $4. Current ratio = Debt ratio = d. Accrued interest expense, $3. Debt ratio =$60$30=0.50 Read the requirement. b. Paid long-term debt, $9 c. Collected cash from customers in advance, \$4. Currentratiocurrentratiodebtratio=Debtratio d. Accrued interest expense, $3