E12-7 Analyzing the Impact of Selected Transactions on the Current Ratio LO12-7 Current assets for JC Inc. totalled $34,440, and the current ratio was 1.64. Assume that the following transactions were completed: (1) Purchased merchandise for $6,500 on short-term credit. (2) Purchased a delivery truck for $15,000paid $4,125 cash and signed a two-year interest-bearing note for the balance. Required: Compute the current ratio after each transaction. (Round the final answers to 2 decimal places.) Current ratio Transaction (1) Transaction (2)