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Sunland Incorporated had the following transactions involving current assets and current liabilities during February 2025. Feb. 3 7 11 14 18 Additional information: As of
Sunland Incorporated had the following transactions involving current assets and current liabilities during February 2025. Feb. 3 7 11 14 18 Additional information: As of February 1, 2025, current assets were $130,000 and current liabilities were $40,000. Compute the current ratio as of the beginning of the month and after each transaction. (Round answers to 2 decimal places, e.g. 1.83: 1.) Collected accounts receivable of $17,700. Purchased equipment for $30,000 cash. Paid $4,100 for a 1-year insurance policy. Paid accounts payable of $13,500. Declared cash dividends of $5,300. Current ratio as of February 1, 2025 Feb. 3 Feb. 7 Feb. 11 :1 :1 :1 :1
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