The president of Screven Enterprises asks if you could indicate the impact certain transactions have on the

Question:

The president of Screven Enterprises asks if you could indicate the impact certain transactions have on the following ratios.

1. Received $5,000 on cash sale. The cost of the goods sold was $2,600.2. Recorded bad debts expense of $500 using allowance method.3. Wrote off a $100 account receivable as uncollectible (Uses allowance method.)4. Recorded $2,500 sales on account.The cost of the goods sold was $1,500.InstructionsComplete the table, indicating whether each transaction will increase (I), decrease (D), or have no effect (NE) on the specific ratios provided for Screven Enterprises.