Problem 17-3A Transactions, working capital, and liquidity ratios LO P3 Plum Corporaton began the month of May with s900,000 ofcument assets, a cument ratio of 2.00:1. and an acid-test ratio of 1.50:1. During the month, it completed the following transactions (the company uses a perpetual inventory system) May 2 Purdhased $70.000 of merchandise nventory on aedit. B Sold merchandise inventory that cost S60,000 fors160.000 cash. 10 Colleeded $32,000 cash on an account reoeivable 15 Paid S29,000 cash to settle an account payable 17 wrote off a S5,000 bad debt against the Alowance for Doubtul Accounts account 22 Declared a S1 per share cash dividend on its 66.000 shares of outstanding commo stock n 26 Paid the dNidend declared on May 22 27 Bomowed S95,000 cash by gring the bank a 30-day, 10% no te 28 Bomowed $110,000 cash by signing a long-term secured note 29 Used the S205,000 cash proceeds from the notesto buy new machinery Required Prepare a tatile showing Plums 1) cument ratio (2) acid-test ratio, and 3) working capital after each transaction (Do round intemedlate calculations. Round your ratos to 2 decimal places and the working capitals to nearest dollar amount. Subtracted amountshould be indicated with a minus slgn)