Halifax Fisheries Inc. began the month of March with $750,000 of current assets, a current ratio of 2.5 to 1, and an quick ratio of 1.1 to 1. During the month, it completed the following transactions: Mar. 6 Bought $85,000 of merchandise on account. (The company uses a perpetual inventory system.) 11 Sold merchandise that cost $68,000 for $113,000. 15 Collected a $29,000 account receivable. 17 Paid a $31,000 account payable. 19 Wrote off a $13,000 bad debt against Allowance for Doubtful Accounts. 24 Declared a $1.25 per share cash dividend on the 40,000 outstanding common shares. 28 Paid the dividend declared on March 24. 29 Borrowed $85,000 by giving the bank a 30-day, 10% note. 30 Borrowed $100,000 by signing a long-term secured note. 31 Used the $185,000 proceeds of the notes to buy additional machinery. Required: Prepare a schedule showing Halifax Fisheries Inc.s current ratio, quick ratio, and working capital after each of the transactions. (Round ratios to 2 decimal places and other final answers to nearest whole dollar.)

10:52 EHUB now Shift available on Apr 07, 11:30 PM - 08:00 AM. wial. Doug 09,000 or merchandise on account. une company perpetual inventory system.) 11 Sold merchandise that cost $68,000 for $113,000. 15 Collected a $29,000 account receivable. 17 Paid a $31,000 account payable. 19 Wrote off a $13,000 bad debt against Allowance for Doubtfu 24 Declared a $1.25 per share cash dividend on the 40,000 ou common shares. 28 Paid the dividend declared on March 24. 29 Borrowed $85,000 by giving the bank a 30-day, 10% note. 30 Borrowed $100,000 by signing a long-term secured note. 31 Used the $185,000 proceeds of the notes to buy additional Required: Prepare a schedule showing Halifax Fisheries Inc.'s current ratio, quic working capital after each of the transactions. (Round ratios to 2 dec and other final answers to nearest whole dollar.) Transaction Current Quick Assets Current Liabilities Current Ratio Quick Ratio Working Capital Beginning Mar. 6 Bel. Mar. 11 Hal Mar. 15 Bal Mar. 17 Bal. Mar. 19 Bal Mar24 Ral Mar. 28 Bal. Mar. 29 Bal. Mar. 30 Bal. Mar 31 References eBook & Resources Worksheet Learning Objective: 17-04 Describe and lyric analysis