Current assets totaled $50,000 and the current ratio was 1.2. Assume that the following transactions were completed: (1) purchased merchandise for $11,000 on short-term credit and (2) purchased a delivery truck for $22,000, paid $3,000 cash, and signed a two-year interest-bearing note for the balance. Required: Compute the cumulative current ratio after each transaction. (Round your final onswers to 2 decimal places.)