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 1.60:1. 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 $65,000 for $160,000 cash.
	10		Collected $22,000 cash on an account receivable.
	15		Paid $28,500 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 68,000 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 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.)

Thank you in advance!

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 1.60:1. 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. chandise inventory that cost $65,000 for $160,000 cash. 10 Collected $22,000 cash on an account receivable. 15 Paid $28,500 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 68,000 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. Transaction Beginning Current Assets $ 1,300,000 1,360.000 X Quick Assets $ 990.476 990.476 X Current Llabilities $ 619,048 679,048 X Current Ratio 2.10 Acid-Test Ratio 1.60 Working Capital $ 680,952 May 2 Balance 1.9 1.60X 6 15,952x 2.660.000 1.295,000 X 1.980.952 1.150.476 X 1.298,096 679,048 X May Balance 3.955.000 3.131.428 1.977,144 May 10 Balance May 15 Balance May 17 Balance May 22 Balance May 26 Balance May 27 Balance May 28 Balance May 29 Balance