Plum Corporation began the month of May with $1,200,000 of current assets, a current ratio of 2.60.1, and an acid-test ratio of 1.60:1. During the month, it completed the following transactions (the company uses a perpetual Inventory system). May 2 Purchased $55,000 of merchandise inventory on credit. 8 Sold merchandise inventory that cost $65,000 for $155,000 cash. 10 Collected $31,000 cash on an account receivable. 15 Paid $27,500 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 60,000 shares of outstanding common stock. 26 Paid the dividend declared on May 22. 27 Borrowed $90,000 cash by giving the bank a 30-day, 10% note. 28 Borrowed $115,000 cash by signing a long-term secured note. 29 Used the $205,000 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 ratlos 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 Acid-Test Ratio Working Capital $ 1,200,000 $ 738,462 $ 461,538 2.60 1.60 $ 738,462 55,000 55,000 Balance 516,538 2.43 May 8 1,255,000 (65,000) 155,000 155,000 Balance May 10 (31,000) 31,000 (31,000) 31,000 Balance May 15 (27,500) (27,500) 27,5001 Balance May 17 Balance May 22 60,000 Balance May 26 (60,000) (60,000) (60,000)