Vince Corporation has current assets of $300,000 and current liabilities of $175,000. Compute the effect of each of the following transactions...

Vince Corporation has current assets of $300,000 and current liabilities of $175,000.

Compute the effect of each of the following transactions on Vince’s current ratio:

1. Refinanced a $50,000 long-term mortgage with a short-term note.
2. Purchasing $80,000 of merchandise inventory with short-term accounts payable.
3. Paying $30,000 of  short-term accounts payable.

Collecting $40,000 of short-term accounts receivable