(Solved): On January 1, 5G Company reported current assets of $72,000 and current liabilities of $60,000. Com ...

On January 1, 5G Company reported current assets of $72,000 and current liabilities of $60,000. Compute total current assets, total current liabilities, and the current ratio at January 1 and after each of the following transactions. (Round current ratio to two decimal places. Amounts to be deducted should be indicated with a minus sign.) January 5 Purchased equipment to be used in operations for $18,000 cash. January 12 Paid $5,000 cash for accounts payable. January 18 Acquired a building in exchange for a $99,000 long-term note payable, first payment to occur in 3 years. January 22 Purchased $12,000 of merchandise on credit, terms n/45. January 31 Sold outdated machinery for $12,700 cash. Answer is not complete. Current Date Current Assets Current Liabilities Ratio January 1 $ 72.000 $ 60,000 January 5 18,000 60,000 X Balance, January 5 90,000 120,000 January 12 49,000 Balance, January 139,000 120,000 12 January 18 Balance, January 18 139,000 120,000 January 22 Balance, January 22 139,000 120,000 January 31 Balance, January 139,000 120,000 131 1.20 0.90