Current assets totaled $54,000 and the current ratio was 1.5. Assume that the following transactions were completed:

Question:

Current assets totaled $54,000 and the current ratio was 1.5. Assume that the following transactions were completed:
(1) Purchased merchandise for $7,000 on short-term credit and
(2) Purchased a delivery truck for $12,000, paid $3,000 cash, and signed a two-year interest-bearing note for the balance.
Required:
Compute the cumulative current ratio after each transaction.