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Assume current assets totaled $63,000 and the current ratio was 1.2 before the following independent transactions: (1) Purchased merchandise for $7,000 on short-term credit. (2)

Assume current assets totaled $63,000 and the current ratio was 1.2 before the following independent transactions:

(1) Purchased merchandise for $7,000 on short-term credit.

(2) Purchased a delivery truck for $23,000. paid $8,000 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.)

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