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! Required information (The following information applies to the questions displayed below.] Indicate whether each of the actions listed below will immediately incr (D), or

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! Required information (The following information applies to the questions displayed below.] Indicate whether each of the actions listed below will immediately incr (D), or have no effect (N) on the ratios shown. Assume each ratio i: before the action is taken. Current ratio Acid-test ratio Total debt to equity ratio Prepay rent for 3 months Current ratio Acid-test ratio Total debt to equity ratio Cash sale of land for a gain Current ratio Acid-test ratio Total debt to equit Collection of an Account Receivable N N N Current ratio Acid-test ratio Total debt to equity r Purchase advertising on 30-day credit Current ratio Acid-test ratio Total debt to equ Payment of recently accrued income taxes Current ratio Acid-test ratio Total debt to equity r: Cash sale of inventory for a profit

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