Assume current assets totaled $120,000 and the current ratio was 1.5 before the following transactions: (1) Purchased merchandise for $40,000 on short-term credit. (2) Purchased a delivery truck for $25,000. Paid $3,000 cash and signed a two-year interest-bearing note for the balance. Required: Compute the current ratio after each transaction. Compute the current ratio after each transaction.