Question: Complete the following table by indicating whether the transactions or economic events would increase, decrease, or have no effect on the financial ratios listed. Assume

Complete the following table by indicating whether the transactions or economic events would increase, decrease, or have no effect on the listed. Assume that the current ratio is greater than 1.0, the quick ratio less than 1.0, and the gross margin percentage was 51 percent before considering the effect of each transaction or economicevent.

Current ratio Quick Gross margin Inventory Profit margin Debt-to ratio percentage turnover ratio percentage equity ratio a. $10,000 of inventory that was dam b. Inventory costing S5,000 is sold c. Inventory on consignment is d. Inventory is purchased for aged in an accident is written off for $11,000 cash delivered to the seller $35,000; payment will be made in 30 days

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