Question: Current assets totaled $ 5 0 , 0 0 0 and the current ratio was 1 . 2 . Assume that the following transactions were

Current assets totaled $50,000 and the current ratio was 1.2. Assume that the following transactions were completed: (1) purchased merchandise for $13,000 on short-term credit and (2) purchased a delivery truck for $21,000, paid $6,000 cash, and signed a two-year interest-bearing note for the balance. Required: Compute the cumulative current ratio after each transaction. (Round your final answer to 2 decimal places.)

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