13 Homework Question 7 (of 12) value 1.00 points Current assets totaled $52,000 and the current ratio was 1.2. Assume that the following transactions were completed: (1) purchased merchandise for $14,000 on short-term credit and (2) purchased a delivery truck for $27,000, paid $4,000 cash, and signed a two-year interest-bearing note for the balance. Required: Compute the cumulative current ratio after each transaction. (Round your final answers to 2 decimal places.) Cumulative Transaction Current Ratio