Plum Corporation began the month of May with $1,400,000 of current assets, a current ratio of 1.90:1, and an acid-test ratio of 1.40:1. During the month, it completed the following transactions (the company uses a perpetual inventory system).

May		2		Purchased $70,000 of merchandise inventory on credit.
		8		Sold merchandise inventory that cost $55,000 for $120,000 cash.
		10		Collected $26,000 cash on an account receivable.
		15		Paid $25,500 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 64,000 shares of outstanding common stock.
		26		Paid the dividend declared on May 22.
		27		Borrowed $95,000 cash by giving the bank a 30-day, 10% note.
		28		Borrowed $110,000 cash by signing a long-term secured note.
		29		Used the $205,000 cash proceeds from the notes to buy new machinery.

Transaction	Current Assets	Quick Assets	Current Liabilities	Current Ratio	Acid-Test Ratio	Working Capital
Beginning	$1,400,000	$1,031,579	$736,842	1.90	1.40	$663,158
May 2
Balance	1,400,000		736,842
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