Plum Corporation began the month of May with $700,000 of current assets, a current ratio of 2.20:1, 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 $145,000 cash 10 Collected $22,000 cash on an account receivable 15 Paid $31,000 cash to settle an account payable 17 Wrote off a $5,000 bad debt against the Allowance for Doubtful Accounts account 22 Declared a $i 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 $110,000 cash by signing a long-term secured note. 29 Used the $200,000 cash proceeds from the notes to buy new machinery 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.) Current Assets Quick Assets urren Liabilities Transaction Beginning May 2 Current Ratio Acid-Test Ratio Working Capital $700,000$ 509,091$ 318,182 2.20 1.60 S 381,818 Balance 700,000 318,182 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