Current assets totaled $46,000 and the current ratio was 1.2. Assume that the following transactions were completed: (1) purchased merchandise for $6,000 on short-term credit and (2) purchased a delivery truck for $29,000, paid $4,000 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.) Answer is complete but not entirely correct. Cumulative Transaction Current Ratio (1) 1.17 (2) 1.10 X