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Halifax Fisheries Inc. began the month of March with $774,000 of current assets, a current ratio of 25 to 1 , and a quick ratio

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Halifax Fisheries Inc. began the month of March with $774,000 of current assets, a current ratio of 25 to 1 , and a quick ratio of 1.1 to 1 , During the month, it completed the following transactions: Mar. 6 Bought $87,400 of merchandise on account. (The company uses a perpetual Inventory systen.) 11 5old merchandise that cost 72,800 for $125,600. 13 collected a 31,490 account recelvable. 17 Paid a $33,400 account payable. 19 Wrote off a 515,400 bad debt against A1lowance for Doubtful Accounts. 24 Declared a $2,45 per share cash dividend on the 42,400 outstanding comon shares. 28 Pald the divldend declared on March 24. 29 borrowed $97,000 by giving the bank a 30 -day, 14x note. 30 Borrowed $124,000 by signing a long-tere secured note. 31 Used the $221, 0e0 proceeds of the notes to buy additional machinery. Required: Prepare a schedule showing Halfax. Fisheries Inc's current-ratio, quick ratio, and working capital after each of the tiansactions. (Round ratios to 2 decimal places and other final answers to nearest whole dollar.) Required: Prepare a schedule showeng Holfax Fishertes lnc's current ratio, quick fato, and working captal after each of the transactions. (Round ratios to 2 declinal places and other final answers to nearest whole dollar.)

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