E13-7 Analyzing the impact of Selected Transactions on the Current Ratio Current assets totaled $120,000 and the current ratio was 1.5. Assume that the following transactions were completed: (1) purchased merchandise for $40,000 on short-term credit and (2) purchased a delivery truck for $25,000, paid $3,000 cash, and signed a two-year interest-bearing note for the balance. Required: Compute the cumulative current ratio after each transaction. E13-10 inferring Financial Information Dollar General Corporation operates general merchandise stores that feature quality merchandise at low prices to meet the needs of middle-, low-, and fixed-income families. All stores are located in the United States, predominantly in small towns in 24 midwestern and southeastem states. In a recent year, the company reported average inventories of $1,456,414,000 and an inventory turnover ratio of 5.0. Average total fixed assets were $1,218,874,000, and the fored asset turnover ratio was 7.5. Determine the gross profit for Dollar General. Net sales = Cost of goods soid = Gross Profit = Net sales Cost of goods sold =