Johnston Company reported these ratios at December 31, 2012 (dollar amounts in millions):Johnston…

Johnston Company reported these ratios at December 31, 2012 (dollar amounts in millions):Johnston…

Johnston Company reported these ratios at December 31, 2012 (dollar amounts in millions):Johnston Company completed these transactions during 2013:a. Purchased equipment on account, $5b. Paid long-term debt, $6c. Collected cash from customers in advance, $5d. Accrued interest expense, $2e. Made cash sales, $6Determine whether each transaction improved or hurt Johnston’s current ratio and debtratio.
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Johnston Company reported these ratios at December 31 2012 dol

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