Crane Incorporated had the following transactions involving current assets and current liabilities during February 2025....
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Crane Incorporated had the following transactions involving current assets and current liabilities during February 2025. Feb. 3 Collected accounts receivable of $10,400. 7 Purchased equipment for $42,000 cash. 11 Paid $4,800 for a 1 -year insurance policy. 14 Paid accounts payable of $16,000. 18 Declared cash dividends of $6,700. Additional information: As of February 1, 2025, current assets were $129,500 and current liabilities were $35,000. 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 Feb. 3 1 Additional information: As of February 1. 2025, current assets were $129,500 and current liabilities were $35,000. Compute the current ratio as of the beginning of the month and after each transaction. (Round answers to 2 decimal places, e.8. 1.83:1.)
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