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Plum Corporation began the month of May with $1,300,000 of current assets, a current ratio of 1.90:1, and an acid-test ratio of 1.50:1. During the month, it completed the following transactions (the company uses a perpetual inventory system). May 2 Purchased $55,000 of merchandise inventory on credit. 8 Sold merchandise inventory that cost $50,000 for $130,000 cash. 10 Collected $27,000 cash on an account receivable 15 Paid $22,500 cash to settle an account payable 7 Wrote off a $5,000 bad debt against the Allowance for Doubtful Accounts account. Declared a $1 per share cash dividend on its 60,000 shares of outstanding common stock 26 Paid the dividend declared on May 22. 27 Borrowed $95,000 cash by giving the bank a 30-day, 10% note 28 Borrowed $115,000 cash by signing a long-term secured note 29 Used the $210,000 cash proceeds from the notes to buy new machinery Required Prepare a table showing Plum's (1) current ratio, (2) acid-test ratio, and (3) working capital, after each transaction. (Do not round intermediate calculations. Round your ratios to 2 decimal places and the working capitals to nearest dollar amount.Subtracted amount should be indicated with a minus sign.) CurrentQuick Assets Assets Liabilities Ratio Current Current Acid-Test Working ransaction Ratio Capital 1.50615,789 Beginning 1,300,000 1,026,316 $ 684,211 1.90 May 2 Balance 1,300,000 684,211 May 8 Balance May 10 Balance May 15 Balance May 17 Balance May 22 Balance May 26 Balance May 27 Balance May 28 Balance May 29