Sheridan Incorporated had the following transactions involving current assets and current liabilities during February 2025.

Feb. 3 Collected accounts receivable of $14,400.

7- Purchased equipment for $33,600 cash.

11- Paid $4.600 for a 1-year insurance policy.

14-Paid accounts payable of $14,000.

18-Declared cash dividends of $4,900.

Additional information:

As of February 1, 2025, current assets were $132,800 and current liabilities were $32.000.

Compute the current ratio as of the beginning of the month and after each transaction. (Round answers to 2 decimal places, eg. 13: 1.)

Current ratio as of February 1, 2025

4 15

Feb. 3

4.82

Feb. 7

Feb. 11

Feb, 14

Feb. 18

Sheridan incorporated had the following tiransactoon itholving current assets and cueren tablities during Feoruevy a0es Feb.3. Callected accounts recehalle of 514,400. 7. Purchastd tquiptiene for $33,600 cath 11 Paid 56 soofora 1 year inkar ance polich 14 Paid actounat rayable of 514000 13: Decharedeas divitendi at 34, 90C Addiritnal inforthation: As of Febryany 1,2025. current atiets were 5132,800 and curnent Fiatilaien wers 342000 Sheridan incorporated had the following tiransactoon itholving current assets and cueren tablities during Feoruevy a0es Feb.3. Callected accounts recehalle of 514,400. 7. Purchastd tquiptiene for $33,600 cath 11 Paid 56 soofora 1 year inkar ance polich 14 Paid actounat rayable of 514000 13: Decharedeas divitendi at 34, 90C Addiritnal inforthation: As of Febryany 1,2025. current atiets were 5132,800 and curnent Fiatilaien wers 342000