Chapter 13 Instruct Question 4 (of 8) Save & Exit Time remaining value 12.50 points E13-14 Analyzing the Impact of Selected Transactions on the Current Ratio [LO 13-4, LO 13-5] A company has current assets that total $504,000, has a current ratio of 2.10, and uses the perpetual inventory method. Assume that the following transactions are then completed: (1) sold $13,100 in merchandise on short-term credit for $17.200, (2) declared but did not pay dividends of $49,000, (3) paid prepaid rent in the amount of $10,800, (4) paid previously declared dividends in the amount of $49,000, (5) collected an account receivable in the amount of $11,900, and (6) reclassified $39,000 of long-term debt as a current liability Required: Compute the updated current ratio after each transaction, by showing the cumulative effects transactions in the following table. (Round your answers to 2 decimal places.) Current Ratio Transaction (1) Transaction (2) Transaction (3) Transaction (4) Transaction (5) Transaction (6)