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Assume current assets totaled $51,000 and the current ratio was 1.2 before the following independent transactions: (1) Purchased merchandise for $10,000 on short-term credit. (2)

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Assume current assets totaled $51,000 and the current ratio was 1.2 before the following independent transactions: (1) Purchased merchandise for $10,000 on short-term credit. (2) Purchased a delivery truck for $24,000. paid $6,000 cash and signed a two-year interest-bearing note for the balance. Required Compute the current ratio after each transaction. (Round your final answers to 2 decimal places.) Transaction Current Ratio 2

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