Current assets totalled $1,000,000, the current ratio was 2.0, and the company uses the periodic inventory method. Assume that the following transactions were completed: (1) sold $26,000

in merchandise on account, (2) declared but did not pay dividends of \(\$ 40,000\), (3) paid rent in advance in the amount of \(\$ 24,000\), (4) paid previously declared dividends in the amount of \(\$ 40,000\), (5) collected a trade receivable in the amount of \(\$ 20,000\), and (6) reclassified \(\$ 90,000\) of long-term debt as a short-term liability.
\section*{Required:}
Compute the current ratio after each transaction.