The accounting records of Rick Appliances included the following balances at the end of the period: In the past Rick's warranty expense has been 8% of sales. During the current period, the business paid $5.000 to satisfy the warranty claims Journalize Rick's warranty expense for the period and the company's cash payments to satisfy warranty claims Show what Rick's Appliances will report on its income statement and balance sheet for this situation at the end of the period. Which data item 1.om requirement 2 will affect Rick's current ratio? Will Rick s current ratio increase or decrease as result of this item