Problem 17-3A Analysis of working capital LO4 Halifax Fisheries Inc. began the month of March with $774,000 of current assets, a current ratio of 2.5 to 1, and a quick ratio of 11 to 1 During the month, it completed the following transactions: Mar. 6 Bought $87,400 of merchandise on account. (The company uses a perpetual inventory system.) 11 Sold merchandise that cost 72,800 for $125,000. 15 Collected a 31,400 account receivable. 17 Paid a $33,400 account payable. 19 Wrote off a $15,480 bad debt against Allowance for Doubtful Accounts. 24 Declared a $2.45 per share cash dividend on the 42,400 outstanding common shares. 28 Paid the dividend declared on March 24. 29 Borrowed $97,000 by giving the bank a 30-day, 14% note. 30 Borrowed $124,000 by signing a long-term secured note. 31 Used the $221,808 proceeds of the notes to buy additional machinery. Required: Prepare a schedule showing Halifax Fisheries Inc's current ratio, quick ratio, and working capital after each of the transaction ratios to 2 decimal places and other final answers to nearest whole dollar) (Round Transaction Current Assets Quick Assets Current Liabilities Current Ratio Quick Ratio Working Capital