Assume current assets totaled $120,000 and the current liabilities totaled $80,000 before the following independent transactions: (i) Purchased merchandise for $40,000 on account. (ii) Purchased a...

Assume current assets totaled $120,000 and the current liabilities totaled $80,000 before the following independent transactions:

(i) Purchased merchandise for $40,000 on account.

(ii) Purchased a delivery truck for $25,000. Paid $3,000 cash and signed a note payable due to be paid in two years for the balance.

Required:

(Show all calculations and round ALL answers to 2 decimal places.)

Compute the current ratio after each independent transaction.