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The balance sheet of Mister Ribs Restaurant reports current assets of $69,000 and current liabilities of $34,500 Calculate the current ratio of Mister Ribs Restaurant

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The balance sheet of Mister Ribs Restaurant reports current assets of $69,000 and current liabilities of $34,500 Calculate the current ratio of Mister Ribs Restaurant and determine whether it will increase or decrease as a result of the following transactions. Consider each item, (a)-(d), independent of the others. a. Paid $5,520 cash for a new oven b. Received a $5,520 cash contribution from an investor for the company's common stock. c Borrowed $23,460 cash from a bank, issuing a note that must be repaid in three years. d Purchased $1,400 of napkins, paper cups, and other disposable supplies on account. Complete this question by entering your answers in the tabs below. Required ARequired B Required CRequired D Calculate the current ratio and determine whether it will increase, decrease, or remain the same. Paid $5,520 ca oven. Current Ratio Effect Numerator Denominator Required A Required B>

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