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Shamrock, Inc. had the following transactions involving current assets and current liabilities during February 2020. Feb. 3 Collected accounts receivable of $16,300. 7 Purchased equipment
Shamrock, Inc. had the following transactions involving current assets and current liabilities during February 2020. Feb. 3 Collected accounts receivable of $16,300. 7 Purchased equipment for $36,500 cash. 11 Paid $2,500 for a 1-year insurance policy. 14 Paid accounts payable of $12,300. 18 Declared cash dividends, $5,600. Additional information: As of February 1, 2020, current assets were $132,500 and current liabilities were $32,200. Compute the current ratio as of the beginning of the month and after each transaction. (Round all answers to 2 decimal pla Current ratio as of February 1, 2020 Feb. 3 Feb. 7 Feb. 11 Feb. 14 Feb. 18 4.71
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