Problem 13-3A (Algo) Transactions, working capital, and liquidity ratios LO P3 Plum Corporation began the month of May with $1,100,000 of current assets, a current ratio of 2.20:1, and an acid-tesi During the month, it completed the following transactions (the company uses a perpetual inventory system). May 2 Purchased $8e,060 of merchandise inventory on credit. May 8 Sold merchandise inventory that cost $50,0e, for $145,600 cash. May 10 Collected $24,0ecash on an account receivable. May 15 Paid $29,600 cash to settle an account payable. May 17 Wrote off a \$5, 6ee bad debt against the Allowance for Doubtful Accounts account. May 22 Declared a $1 per share cash dividend on its 56 , eee shares of outstanding common stock. May 26 Paid the dividend declared on May 22 . May 27 Borrowed $105,000 cash by giving the bank a 3e-day, 10% note. May 28 Borrowed $138,680 cash by signing a long-term secured note. May 29 Used the $235,600 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 transactic round intermediate calculations. Round your ratios to 2 decimal places and the working capitals to nearest dollar ar Amounts to be deducted should be indicated with a minus sign.)