Problem 17-3A Analysis of working capital LO4 Halifax Fisherles Inc. began the month of March with $774,000 of current assets, a current ratlo of 2.5 to 1 , and a quick ratio of 1.1 to 1 . During the month, it completed the following transactions: Mar. 6 Bought $87,466 of merchandise on account. (The company uses a perpetual inventory system.) 11 Sold merchandise that cost $72,80 for $125,88. 15 collected a $31,46 account receivable. 17 Paid a $33,4 account payable. 19 Wrote off a $15,406 bad debt against Allowance for Doubtful Accounts. 24 Declared a $2.45 per share cash dividend on the 42,496 outstanding common shares. 28 Paid the dividend declared on March 24. 29 Borrowed $97,968 by giving the bank a 30 -day, 14% note. 30 Borrowed $124,808 by signing a long-term secured note. 31 used the $221,008 proceeds of the notes to buy additional machinery. Requlred: Prepare a schedule showing Halifax Fisherles Inc's current ratio, quick ratlo, and working capital after each of the transactions. (Round ratios to 2 decimal places and other final enswers to nearest whole dollar.)