Reference no: EM132535633
Question - Skysong, Inc. had the following transactions involving current assets and current liabilities during February 2019.
Feb. 3 Collected accounts receivable of $18,900.7
Feb 7 Purchased equipment for $36,800 cash.
Feb 11 Paid $3,500 for a 1-year insurance policy.
Feb 14 Paid accounts payable of $12,400.
Feb 18 Declared cash dividends, $8,500.
Additional information: As of February 1, 2019, current assets were $135,000 and current liabilities were $35,400.
Required - Compute the current ratio as of the beginning of the month and after each transaction.
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