Problem $17-3$A $($Algo$)$ Transactions, working capital, and liquidity ratios LO P$3$

Plum Corporation began the month of May with $$800,000$ of current assets, a current ratio of $2\mathrm{.}20$:$1,$ and an acid$-$test ratio of $1\mathrm{.}40$:$1.$

During the month, it completed the following transactions $($the company uses a perpetual inventory system$).$

May $2$ Purchased $$80,000$ of merchandise inventory on credit.

May $8$ Sold merchandise inventory that cost $$60,000$ for $$115,000$ cash.

May $10$ Collected $$29,000$ cash on an account receivable.

May $15$ Paid $$29,500$ cash to settle an account payable.

May $17$ Wrate off a $$5,000$ bad debt against the Allowance for Doubtful Accounts account.

May $22$ Declared a $$1$ per share cash dividend on its $69,000$ shares of outstanding cornon stock.

May $26$ Paid the dividend declared on May $22.$

May $27$ Borrowed $$100,000$ cash by giving the bank a $30-$day, $10$ : note.

May $28$ Borrowed $$125,000$ cash by signing a long$-$term secured note.

May $29$ Used the $$225,000$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.

Note: 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.