Plum Corporation began the month of May with $1,300,000 of current assets, a current ratio of 1.90:1, and an acid-test ratio of 1.50:1 During the month, it completed the following transactions (the company uses a perpetual inventory system) May 2 Purchased $60,000 of merchandise inventory on credit. 8 Sold merchandise inventory that cost $60,000 for $150,000 cash. 10 Collected $25,000 cash on an account receivable 15 Paid $26,500 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 62,000 shares of outstanding common stock. 26 Paid the dividend declared on May 22 27 Borrowed $105,000 cash by giving the bank a 30-day, 10% note. 28 Borrowed $135,000 cash by signing a long-term secured note. 29 Used the $240,000 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. (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.) Quick Current L Assets Transaction Current Assets iabilitiesCurrent Ratio Acid-Test Ratio Working Capital $1,300.000 1.50$ Beginning May 2 $ 1,300,000 $1,026,316$ 684,211 1.90 615,789 Balance 1,300,000 684,211 May 8 Balance May 10 Balance May 15 Balance May 17 Balance May 22 Balance May 26 Balance May 27 Balance May 28 Balance May 29 Balance