Current assets totaled $54,000 and the current ratio was 1.5. Assume that the following transactions were completed: (1) purchased merchandise for $7,000 on short-term credit and (2) purchased a delivery truck for $12,000, paid $3,000 cash, and signed a two-year interest-bearing note for the balance

Compute the cumulative current ratio after each transaction. (Round your answers to 2 decimal places.)

Transaction Cumulative

Current ratio

(1) ___________

(2) ___________

A.	Transaction Cumulative Current ratio (1) 3.42 (2) 2.35
	B.	Transaction Cumulative Current ratio (1) 1.49 (2) 1.39
	C.	Transaction Cumulative Current ratio (1) 1.32 (2) 1.25
	D.	Transaction Cumulative Current ratio (1) 1.42 (2) 1.35