7 Current assets totaled $47,000 and the current ratio was 12. Assume that the following transactions were completed: (1) purchased merchandise for $6,000 on short-term credit and (2) purchased a delivery truck for $16.000, paid $7,000 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.) bints 5pped Transaction Cumulative Current Ratio eBook (1) (2) Hint