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E12-7 Analyzing the Impact of Selected Transactions on the Current Ratio LO12-8 Current assets for JC inc. totalled $58,300, and the current ratio was 2.12. Assume that the following transactions were completed: (i) Purchased merchandise for $6,300 on short-term credit. (2) Purchased a dellvery truck for $25,000-paid $8,450 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.) Answer is complete but not entirely correct