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In its most recent annual report, Appalachian Beverages reported current assets of $59,500 and a current ratio of 170. Assume that the following transactions were

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In its most recent annual report, Appalachian Beverages reported current assets of $59,500 and a current ratio of 170. Assume that the following transactions were completed: (1) purchased merchandise for $6,500 on account and (2) purchased a delivery truck for $10,000, paying $3,000 cash and signing a two-year promissory note for the balance. 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.) Current Ratio Transaction (1) Transaction (2)

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