Cytivia Software Inc. began the month of March with $286,000 of current assets, a current ratio of 2.2 to 1, and an acid-test ratio of 0.9 to 1. During the month, it completed the following transactions:

Required
Prepare a schedule showing the company€™s current ratio, acid-test ratio, and working capital after each of the transactions. Round to two decimalplaces.

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Mar. 3 Sold for $55,000 merchandise that cost $36,000. (The company uses a perpetual inventory system.) Collected a $35,000 account receivable. Bought $56,000 of merchandise on account. Borrowed $60,000 by giving the bank a 60-day, 12% note. Borrowed $90,000 by signing a long-term secured note. Used the $150,000 proceeds of the notes to buy additional machinery. Declared a $1.75 per share cash dividend on the 40,000 shares of outstanding common shares. 5 10 12 15 22 24 26 Wrote off a $14,000 bad debt against Allowance for Doubtful Account:s. 28 Paid a $45,000 account payable. 30 Paid the dividend declared on March 24.