Required information [The following information applies to the questions displayed below.] On January 1, 2024, the general ledger of ACME Fireworks includes the following account balances: During January 2024, the following transactions occur: purchase date. The cost of the units sold is $75,300 January 23 Receive $125,700 from customers on accounts receivable. January 25 Pay $93,000 to inventory suppliers on accounts payable. January 28 Write off accounts receivable as uncollectible, $5,100. $128,000 on account. The cost of the units sold is $81,000. January 31 Pay cash for monthly salaries, $52,300 7. Analyze the following for ACME Fireworks Requirement 1: a-1. Calculate the current ratio at the end of January. a-2. If the average current ratio for the industry is 1.80 , is ACME Fireworks more or less liquid than the industry average? Requirement 2: b-1. Calculate the acid-test ratio at the end of January. b-2. If the average acid-test ratio for the industry is 1.50, is ACME Fireworks more or less likely to have difficulty paying its currently maturing debts (compared to the industry average)? Requirement 3: c-1. Assume the notes payable were due on April 1, 2024, rather than April 1, 2025. Calculate the revised current ratio at the end of January. c-2. Indicate whether the revised ratio would increase, decrease, or remain unchanged