The following balances were taken from the October 31, 2014, balance sheet of Hewlett-Packard (dollars in millions).
Current assets ..........................................$50,145
Long-term assets .......................................53,061
Current liabilities ........................................43,735
Long-term liabilities ...................................32,344
Shareholders€™ equity ...................................27,127
Early in fiscal 2015, Hewlett-Packard considered the financial effects of several events.

REQUIRED:
For each of the five events listed here, indicate how they would affect the financial ratios listed by completing the following chart. Assume that financial statements are prepared immediately after each event. Treat each event independently, and use the following key: increase (+), decrease (ˆ’), and no effect (NE).

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Net Income Current Assets Total Liabilities Shareholders' Shareholders' Current Equity Equity Liabilities 1. Purchase inventory on account. 2. Sell assets for cash at a gain. 3. Provide services to customers, receiving cash in return. 4. Make a principal payment on an outstanding long-term liability. 5. Issue common stock for cash.