Plum Corporation began the month of May with $900,000 of current assets, a current ratio of 2.30:1, 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 $75,000 of merchandise inventory on credit 8 Sold merchandise inventory that cost $60,000 for $150,000 cash 10 Collected $29,000 cash on an account receivable 15 Paid 32,000 cash to settle an account payable. 17 Wrote off a $5,000 bad debt against the Allowance for Doubtful Accounts account 22 Declared a $1 per share cash dividend on its 63,000 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 $120,000 cash by signing a long-term secured note. 29 Used the $215,000 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.) Current Assets Quick Assets Current Liabilities Current Ratio Acid-Test Ratio Working Capital ransaction Beginning May 2 $900,000$ 626,087$ 391,304 2.30 1.60 $ 508,696 Balance May 8 Balance May 10 Balance May 15 Balance May 17 Balance May 17 Balance May 22 Balance May 26 Balance May 27 Balance May 28 Balance May 29 Balance