TI Indicate how each of the following transactions would affect AlarmIT Ltd's statement of income, statement of financial position, and statement of cash flows. If there would be no effect, then state that. Alarmit uses the allowance method of accounting for bad debts. 1. AlarmIT recovered a $29,300 receivable from a customer whose account had been previously written off. 2. Alarmit wrote off a receivable from a customer in the amount of $17,300. 3. Alarmit recorded bad debts expense for the period totalling $57,200. The amount was determined based on an aging of accounts receivable. 1. Statement of Income $ Statement of Financial Position > $ $ $ $ V Statement of Cash Flows $ 3. Statement of Income Statement of Financial Position $ Statement of Cash Flows $ e Textbook and Media View Policies Current Attempt in Progress The following amounts were reported by Leau Ltd. in its most recent statement of financial position: Cash Accounts receivable Inventory Prepaid insurance Property, plant, and equipment (net) $31,000 364.250 775.000 15.500 1.755,400 Accounts payable Wages payable Income tax payable Unearned revenue Bank loan payable (due in 5 years) $579,000 33,000 67.000 96.000 45.000 Calculate the current ratio and quick ratio for Leau Ltd. (Round answers to 2 decimal places, eg 15.25.) Current ratio Quick ratio e Textbook and Media Leau Ltd's bank loan includes covenants related to minimum current and quick ratios that the company must maintain. The sovenants state that the company must maintain a current ratio of 1.40 or more and a quick ratio of 0.59 or more. How would a