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Required information [The following information applies to the questions displayed below.] Fabulous Allen Interiors Incorporated is a leading manufacturer and retailer of home furnishings in the United States and abroad. The following is adapted from Fabulous Allen's June 30, 2019, trial balance. (The amounts shown represent millions of dollars.) Assume that the following events occurred in the following quarter. a. Paid $40 cash for additional inventory. b. Issued additional shares of common stock for $35 in cash. c. Purchased equipment for $230; paid $110 in cash and signed a note to pay the remaining $120 in two years. d. Signed a short-term note to borrow $15 cash. e. Conducted negotiations to purchase a sawmill, which is expected to cost $50. c. Purchased equipment for $230; paid $110 in cash and signed a note to pay the remaining $120 in two years. d. Signed a short-term note to borrow $15 cash. e. Conducted negotiations to purchase a sawmill, which is expected to cost $50. Required: 1-a. Calculate Fabulous Allen's current ratio at June 30, 2019, prior to the transactions listed above. (Round your answer to 2 decimal places.) 1-b. Based on the above calculation and analysis of Noodlecake's current ratio 4.73, indicate which company is in better position to pay liabilities as they come due in the next year. Fabulous Allen Noodlecake d. Signed a short-term note to borrow $15 cash. e. Conducted negotiations to purchase a sawmill, which is expected to cost $50. 2. Analyze transactions (a)-(e) to determine their effects on the accounting equation. (Enter any decreases to account balances with a minus sign. Enter your answers in millions (i.e., 10,000,000 should be entered as 10 )