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need help please Plum Corporation began the month of May with $1,000,000 of current assets, a current ratio of 2.60:1, and an acid-test ratio of

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Plum Corporation began the month of May with $1,000,000 of current assets, a current ratio of 2.60:1, and an acid-test ratio of 1.30.1. During the month, it completed the following transactions (the company uses a perpetual inventory system). May 2 Purchased $65,000 of merchandise inventory on credit. 8 Sold merchandise inventory that cost $50,000 for $125,000 cash. 10 Collected $29,000 cash on an account receivable. 15 Paid $23,000 cash to settle an account payable. 17 Wrote off a $5,000 bad debt against the Allowance for Doubtful Accounts account. 22 Declared a $1 per share cash dividend on its 64,000 shares of outstanding common stock. 26 Paid the dividend declared on May 22. 27 Borrowed $115,000 cash by giving the bank a 30-day, 108 note. 28 Borrowed $140,000 cash by signing a long-term secured note. 29 Used the $255,000 cash proceeds from the notes to buy new machinery. Required: Complete the 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.) Transaction Beginning May 2 Current Assets Quick Assets Current Liabilities Current Ratio $ 1,000,000 $ 500,000 $ 384,615 2.60 65,000 0 65,000 Acid-Test Ratio Working Capital $ 615,385 1.30 Balance 449,615 May 8 1,065,000 (50,000) 125,000 125,000 Balance May 10 (29,000) 29,000

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