The current ratio was .992 before the economic event. What is the current ratio after this event? The gross margin was 29.3% before this economic event. What is the gross margin after this event? The profit margin was 6.6% before this economic event. What is the profit margin immediately after this event? The Debt to Equity ratio was 3.2 before the economic event. What is the debt to equity ratio after this economic event? Has solvency increased, decreased, or stayed the same after this economic event? how to approach this problem. Economic Event BBR ran a special sale in December 2023 which gave customers who purchased $1,000 of merchandise, in one day, a $150 coupon to use in 2024. The cash receipt and relief of inventory for the sold merchandise has been recorded. However, the coupon has not been. A total of 5,000,000 customers took advantage of the offer. The coupon is a second performance obligation. (See computation at the left). As a result, sales are overstated by $650. Record this economic event. Questions: Blank 1 - The current ratio was .992 before the economic event. What is the current ratio after this event? Blank 2 - The gross margin was 29.3% before this economic event. What is the gross margin after this event? Blank 3 - The profit margin was 6.6% before this economic event. What is the profit margin immediately after this event? Blank 4 - The Debt to Equity ratio was 3.2 before the economic event. What is the debt to equity ratio after this economic event? Blank 5 - Has solvency increased, decreased, or stayed the same after this economic event? Points to remember: The current ratio was .992 before the economic event. What is the current ratio after this event? The gross margin was 29.3% before this economic event. What is the gross margin after this event? The profit margin was 6.6% before this economic event. What is the profit margin immediately after this event? The Debt to Equity ratio was 3.2 before the economic event. What is the debt to equity ratio after this economic event? Has solvency increased, decreased, or stayed the same after this economic event? how to approach this problem. Economic Event BBR ran a special sale in December 2023 which gave customers who purchased $1,000 of merchandise, in one day, a $150 coupon to use in 2024. The cash receipt and relief of inventory for the sold merchandise has been recorded. However, the coupon has not been. A total of 5,000,000 customers took advantage of the offer. The coupon is a second performance obligation. (See computation at the left). As a result, sales are overstated by $650. Record this economic event. Questions: Blank 1 - The current ratio was .992 before the economic event. What is the current ratio after this event? Blank 2 - The gross margin was 29.3% before this economic event. What is the gross margin after this event? Blank 3 - The profit margin was 6.6% before this economic event. What is the profit margin immediately after this event? Blank 4 - The Debt to Equity ratio was 3.2 before the economic event. What is the debt to equity ratio after this economic event? Blank 5 - Has solvency increased, decreased, or stayed the same after this economic event? Points to remember