Sheridan Incorporated had the following transactions involving current assets and current liabilities during February 2025. Feb....

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Sheridan Incorporated had the following transactions involving current assets and current liabilities during February 2025. Feb. 3 Collected accounts receivable of $18,900. 7 Purchased equipment for $36,800 cash. 11 Paid $3,500 for a 1-year insurance policy. 14 Paid accounts payable of $14,500. 18 Declared cash dividends of $8,500. Additional information: As of February 1, 2025, current assets were $118,400 and current liabilities were $32.000. Compute the current ratio as of the beginning of the month and after each transaction. (Round answers to 2 decimal places, eg. 1.83: 1.) Current ratio as of February 1, 2025 3,7 :1 Feb. 3 Feb. 7 Feb. 11 3.7 1 255 :1 2.44 :1 Feb. 14 3.63 :1 Feb. 18 2.45 :1 Sheridan Incorporated had the following transactions involving current assets and current liabilities during February 2025. Feb. 3 Collected accounts receivable of $18,900. 7 Purchased equipment for $36,800 cash. 11 Paid $3,500 for a 1-year insurance policy. 14 Paid accounts payable of $14,500. 18 Declared cash dividends of $8,500. Additional information: As of February 1, 2025, current assets were $118,400 and current liabilities were $32.000. Compute the current ratio as of the beginning of the month and after each transaction. (Round answers to 2 decimal places, eg. 1.83: 1.) Current ratio as of February 1, 2025 3,7 :1 Feb. 3 Feb. 7 Feb. 11 3.7 1 255 :1 2.44 :1 Feb. 14 3.63 :1 Feb. 18 2.45 :1