! Required Information PB2-3 Recording Transactions (in a Journal and T-Accounts); Preparing and Interpreting the Balance Sheet [LO 2-2, LO 2-3, LO 2-4, LO 2-5] {The following information applies to the questions displayed below.) Starbucks is a coffee company-a big coffee company. During a 10-year period, the number of Starbucks locations in China grew from 24 to over 1,000. The following is adapted from Starbucks's annual report for the year ended October 2, 2016, and dollars are reported in millions. Accounts Payable Accounts Receivable Cash Common Stock Equipment Intangible Assets Inventory Notes Payable (long-term) Notes Payable (short-term) Prepaid Rent Retained Earnings Short-Term Investments $5,150 600 2,960 430 4,180 3,256 1,510 2,860 1,670 610 4,540 740 Assume that the following events occurred in the following quarter, which ended December 31, 2016. Dollars are in millions. a. Paid $1.400 cash for additional intangible assets. b. issued additional shares of common stock for $10,800 in cash. c. Purchased equipment, paid $4.800 in cash and signed additional long-term loans for $9,700. d. Paid $880 cash for accounts payable owed at October 2 e. Conducted negotiations to purchase a coffee farm, which is expected to cost $8,700. PB2-3 Part 7 PB2-3 Part 7 7-a. Use your response to part 6 to calculate Starbucks's current ratio after the transactions listed in (a)-le). (Round your answer to 2 decimal places.) Current ratio after the transactions (a)-e)