Question: THE FIRST AND LAST ANSWER ARE RIGHT NEED THE 2 in between Good Sports, Incorporated, is a private full-line sporting goods retailer. Assume one of

THE FIRST AND LAST ANSWER ARE RIGHT NEED THE 2 in

THE FIRST AND LAST ANSWER ARE RIGHT NEED THE 2 in between

between Good Sports, Incorporated, is a private full-line sporting goods retailer. Assume

Good Sports, Incorporated, is a private full-line sporting goods retailer. Assume one of the Good Sports stores reported current assets of $88,000 and its current ratio was 1.75, and then completed the following transactions: (1) paid $6,000 on accounts payable, (2) purchased a delivery truck for $10,000 cash, (3) wrote off a bad account receivable for $2,000, and (4) paid previously declared dividends in the amount of $25,000. Required: Compute the updated current ratio after each transaction, by showing the cumulative effects of the transactions in the following table. (Round your answers to 2 decimal places.)

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