At its prior year-end, VPN Company reported current assets of $60,500 and current liabilities of $55,200....

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At its prior year-end, VPN Company reported current assets of $60,500 and current liabilities of $55,200. 1. Acquired Inventory for $220 cash. 2. Sold a long-term asset (equipment) for $4,100 cash. 3. Accrued wages payable of $1,600. Determine how each of the above transactions would increase, decrease, or have no effect on total current assets, total current liabilities, and the current ratio. Transaction Current Assets Current Liabilities Current Ratio At its prior year-end, VPN Company reported current assets of $60,500 and current liabilities of $55,200. 1. Acquired Inventory for $220 cash. 2. Sold a long-term asset (equipment) for $4,100 cash. 3. Accrued wages payable of $1,600. Determine how each of the above transactions would increase, decrease, or have no effect on total current assets, total current liabilities, and the current ratio. Transaction Current Assets Current Liabilities Current Ratio