pls solve all steps with an explanation.

The accounting records of Rick's Appliances included the following balances at the end of the period: In the past, Rick's warranty expense has been 5% of sales. During the current period, the business paid $4,000 to satisfy the warranty claims. Read the requirements. Requirement 1. Journalize Rick's warranty expense for the period and the company's cash payments to satisfy warranty claims. Explanations are not required. Start by journalizing the warranty expense. (Record debits first, then credits. Exclude explanations from journal entries.) Requirements 1. Journalize Rick's warranty expense for the period and the company's cash payments to satisfy warranty claims. Explanations are not required. 2. Show what Rick's will report on its income statement and balance sheet for this situation at the end of the period. Now journalize the warranty payments. 3. Which data item from requirement 2 will affect the current ratio? Will Rick's current ratio increase or decrease due to this item