(Round calculations to two decimal places)

Bud Caufield Company reported these ratios at December 31, 2018 (dollar amounts in millions): $30 Current ratio = = 1.50 $20 $30 Debt ratio = = 0.50 $60 Bud Caufield Company completed these transactions during 2019: (Click the icon to view the transactions.) Read the requirement. a. Purchased equipment on account, $7 b. Paid long-term debt, $12 c. Collected cash from customers in advance, $1 d. Accrued interest expense, $4 e. Made cash sales, $7 1. Determine whether each transaction improved or hurt the company's current ratio and debt ratio