Assume current assets totaled $120,000 and the current ratio was 1.5 before the following independent transactions: Purchased merchandise for $40,000 on short-term credit. Purchased a delivery truck for $25,000. Paid $3,000 cash and signed a two-year interest-bearing note for the balance. The Bombay Company, Inc., sold a line of home furnishings that included furniture, wall decor, and decorative accessories. Bombay operated through a network of retail locations throughout the United States and Canada, as well as through its direct-to-customer operations and international licensing arrangements. The company was forced to file for bankruptcy. In its last financial statement prior to bankruptcy, Bombay reported current assets of $161, 604,000 and current liabilities of $113, 909,000. Required: Determine the impact of the following independent transactions on the current ratio for Bombay