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Question: the sports authority inc is a private fullline sporting goods...

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The Sports Authority, Inc. is a private full-line sporting goods retailer. Assume one of the Sports Authority stores reported current assets of $88,550 and its current ratio was 1.75, and then completed the following transactions: (1) paid $5,700 on accounts payable, (2) purchased a delivery truck for $11,500 cash, (3) wrote off a bad account receivable for $2,300, and (4) paid previously declared dividends in the amount of $26,500. 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.) Current Ratio 1.85 Transaction (1) Transaction (2) Transaction (3) Transaction (4) 1.59 Hints ReferenceseBook & Resources Hint #1

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