Exercise 13-12 (Static) Analyzing effect of transactions on current ratio LO P3

Exercise 13-12 (Static) Analyzing effect of transactions on current ratio LO P3 On January 1, 5G Company reported current assets of $72,000 and current liabilities of $60,000. Compute total current assets, total current liabilities, and the current ratio at January 1 and after each of the following transactions. Note: Round current ratio to two decimal places. Amounts to be deducted should be indicated with a minus sign. January 5 Purchased equipment to be used in operations for $18,000cash. January 12 Paid $5,000 cash for accounts payable. January 18 Acquired a building in exchange for a $99,000 long-term note payable, first payment to occur in 3 years. January 22 Purchased $12,000 of merchandise on credit, terms n/45. January 31 Sold outdated machinery for $12,700cash