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Plum Corporation began the month of May with $ 1 , 3 0 0 , 0 0 0 of current assets, a current ratio of

Plum Corporation began the month of May with $1,300,000 of current assets, a current ratio of 2.10:1, and an acid-test ratio of 1.20:1. During the month, it completed the following transactions (the company uses a perpetual inventory system).May 2Purchased $80,000 of merchandise inventory on credit.May 8Sold merchandise inventory that cost $55,000 for $160,000 cash.May 10Collected $27,000 cash on an account receivable.May 15Paid $22,500 cash to settle an account payable.May 17Wrote off a $5,000 bad debt against the Allowance for Doubtful Accounts account.May 22Declared a $1 per share cash dividend on its 57,000 shares of outstanding common stock.May 26Paid the dividend declared on May 22.May 27Borrowed $100,000 cash by giving the bank a 30-day, 10% note.May 28Borrowed $110,000 cash by signing a long-term secured note.May 29Used the $210,000 cash proceeds from the notes to buy new machinery.Required:Complete the table below showing Plum's(1) current ratio,(2) acid-test ratio, and(3) working capital after each transaction.Note: Do not round intermediate calculations. Round your ratios to 2 decimal places and the working capitals to nearest dollar amount. Amounts to be deducted should be indicated with a minus sign. PLEASE ANSWER IN THE EXACT TABLE FORMAT
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