PROBLEM 1 (15 Points) -em-off Industries had the following ratios based on its beginning 2017 financial statements. 1. Current ratio 1.4 2. Acid Test ratio 9.3 times 30 days $1.72 3. Accounts Receivable Turnover 4. Days in Inventory 5. Earnings per share During 2017 the following selected transactions and events occur a. Declared and Paid a cash dividend on common stock b. Purchased inventory on account c. Collected an Accounts Receivable REQUIRED: C the ratio would increase (+), decrease (), or h onsider items (a)-(c) individually, for each of the above ratios, indicate if ave no change(0) EPS CurrentAcid Test A/R Turnover Days in Inventory Ratio BLEM 2 (20 Points) ollowing information was contained in the financial statements of the uT s ornorat