Determine the effect on the current ratio, the quick ratio, net working capital $($current assets

minus current liabilities$),$ and the debt ratio $($total liabilities to total assets$)$ of each of the

following transactions. Consider each transaction separately and assume that prior to each

transaction the current ratio is $1\mathrm{.}5$x$,$ the quick ratio is $0\mathrm{.}9$x$,$ and the debt ratio is $60\%.$ The

company uses an allowance for doubtful accounts. THINK ABOUT WHAT IS INCLUDED IN

EACH PORTION OF THE RATIO AND HOW THE TRANSACTION IMPACTS THE

BALANCE SHEET $($and remember that the balance sheet must always balance$)$