E12-7 Analyzing the Impact of Selected Transactions on the Current Ratio L012-8 Current assets for JC Inc. totalled $44,544, and the current ratio was 1.16 . Assume that the following transactions were completed: (1) Purchased merchandise for $6,600 on short-term credit. (2) Purchased a delivery truck for $20,000-paid $4,500 cash and signed a two-year interest-bearing note for the balance. Required: 1. Determine without computations if the current ratio will increase, decrease, or remain unchanged after each transaction. 2. Compute the current ratio after each transaction. (Round the final answers to 2 decimal places.)