Plum Corporation began the month of May with $900,000 of current assets, a current ratio of 2.20:1, and an acid-test ratio of 160:1 During the month, it completed the following transactions (the company uses a perpetual inventory system). May 2 Purchased $65,000 of merchandise inventory on credit. 8 Sold merchandise inventory that cost $65,000 for $120,000 cash. 10 Collected $21,000 cash on an account receivable. 15 Paid $29,500 cash to settle an account payable. 17 Wrote oft a $5,000 bad debt against the Allowance for Doubtful Accounts account. 22 Declared a $1 per share cash dividend on its 67,000 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, 101 note. 28 Borrowed $120,000 cash by signing a long-term secured note. 29 Used the $210,000 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. Amounts to be deducted should be indicated with a minus sign.) Transaction Current Assets Quick Assets Current Liabilities Current Ratio Acid-Test Ratio Working Capital 1.60 $ 490,909 $ 2.20 654,545 $ 900.000 $ 409,091 Beginning May 2 Balance May 8 Balance May 10 Balance Saved Transaction Current Assets Quick Assets Current Liabilities Current Ratio Acid-Test Ratio Working Capital $ 900,000 $ 654,545 s 409,091 2.20 1.60 $ 490,909 Beginning May 2 Balance May 8 Balance May 10 Balance May 15 Balance May 17 Balance May 22 Balance May 26 Balance May 27