In its most recent annual report, Appalachian Beverages reported current assets of $45,600 and a current ratio of 1.90. Assume that the following transactions were completed: (1) purchased merchandise for $5,400 on account and (2) purchased a delivery truck for $10,000, paying $2,000 cash and signing a two-year promissory note for the balance.

In its most recent annual report, Appalachian Beverages reported current assets of $45,600 and a current ratio of 1.90. Assume that the following transactions were completed: (1) purchased merchandise for $5,400 on account and (2) purchased a delivery truck for $10,000, paying $2,000 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)