E13-14 (Algo) Analyzing the Impact of Selected Transactions on the Current Ratio [LO 13-4, LO 13-5] A company has current assets that total $256,000, has a current ratio of 1.60 , and uses the perpetual inventory method. Assume that the following transactions are then completed: (1) sold $13,900 in merchandise on short-term credit for $18,800, (2) declared but did not pay dividends of $40,000, (3) paid prepaid rent in the amount of $13,200, (4) paid previously declared dividends in the amount of $40,000, (5) collected an account receivable in the amount of $11,100, and (6) reclassified $31,000 of long-term debt as a current liability. Required: Compute the updated current ratio after each transaction, by showing the cumulative effects of the transactions in the following table. (Round your answers to 2 decimal places.)