For each of the following events, identify whether the immediate impact of recording the event...
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Accounting
For each of the following events, identify whether the immediate impact of recording the event is to: (Increase, (Decrease), or have (N)o impact on each of the ratios. Assume all ratios begin with a value less than 1. (Note: consider only the immediate impact of the described event--including normal closing entries) A B D F G Impact on each ratio Impact on each aspect of performance Event 2 Current Ratio Debt to Assets Return on Liquidity Solvency Equity Profitability 3 Purchase supplies on account 4 Collect accounts receivable 5 Take out new long-term loan 6 Record loss of inventory due to theft 7 Record interest revenue that had been collected in advance
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