Kingbird, Inc. had the following transactions involving current assets and current liabilities during February 2022....
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Kingbird, Inc. had the following transactions involving current assets and current liabilities during February 2022. Feb. 3 Collected accounts receivable of $13,500. 7 Purchased equipment for $42,200 cash. 11 Paid $6,000 for a 1-year insurance policy. 14 Paid accounts payable of $12,200. 18 Declared cash dividends, $7,300. Additional information: As of February 1, 2022, current assets were $132,900 and current liabilities were $33,800. Compute the current ratio as of the beginning of the month and after each transaction. (Round all answers to 2 decimal places, e.g. 1.83: 1.) Current ratio as of February 1, 2014 3.93 :1 Feb. 3 3.93 :1 Feb. 7 2.68 :1 Feb. 11 2.68 :1 Feb. 14 3.63 :1 Feb. 18 5.50 :1
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