Question 7 of 11 -12 5 View Policies Current Attempt in Progress Gwynn Incorporated had the following transactions involving current assets and current liabilities during February 2020. Feb, 3 7 11 Collected accounts receivable of $14,200. Purchased equipment for $28,400 cash. Paid $2,000 for a 1-year insurance policy. Paid accounts payable of $13,000 Declared cash dividends $5,600. 14 18 Additional information: As of February 1, 2020, current assets were $129,480, and current liabilities were $49,800. Compute the current ratio as of the beginning of the month and after each transaction (Round answers to 2 decimal places, es 1.67) Current ratio February 1 February 3 :1 February 7 2 TE Question 7 of 11