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Halifax Fisheries Inc. began the month of March with $769,000 of current assets, a current ratio of 2.5 to 1, and a quick ratio of

Halifax Fisheries Inc. began the month of March with $769,000 of current assets, a current ratio of 2.5 to 1, and a quick ratio of 1.1 to 1. During the month, it completed the following transactions:

Mar. 6 Bought $86,900 of merchandise on account. (The company uses a perpetual inventory system.)
11 Sold merchandise that cost 71,800 for $122,500.
15 Collected a 30,900 account receivable.
17 Paid a $32,900 account payable.
19 Wrote off a $14,900 bad debt against Allowance for Doubtful Accounts.
24 Declared a $2.20 per share cash dividend on the 41,900 outstanding common shares.
28 Paid the dividend declared on March 24.
29 Borrowed $94,500 by giving the bank a 30-day, 18% note.
30 Borrowed $119,000 by signing a long-term secured note.
31 Used the $213,500 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.)

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