value: 100 points Current assets totaled $49,000 and the current ratio was 12. Assume that the following transactions were completed: (1) purchased merchandise for $15,000 on short-term credit and (2) purchased a delivery truck for $12,000, paid $5,000 cash, and signed a two-year interest-bearing note for the balance Required: Compute the cumulative current ratio after each transaction (Round your final answers to 2 decimal places.) Transaction Cumulative Current Ratio (1) (2) Hints References eBook & Resources Hint #1 Check my work