Plum Corporation began the month of May with $900,000 of current assets, a current ratio of 2.00:1, and an acid-test ratio of 1.40:1 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. 8 Sold merchandise inventory that cost $50,000 for $120,000 cash. 10 Collected $30,000 cash on an account receivable. 15 Paid $23,500 cash to settle an account payable. 17 Wrote oft a $5,000 bad debt against the Allowance for Doubtful Accounts account. 22 Declared a $1 per share canh dividend on its 64,000 shares of outstanding common stock. 26 Paid the dividend declared on May 22. 27 Borrowed $95,000 cash by giving the bank a 30-day, 104 note. 28 Borrowed $125,000 cash by signing a long-term secured note. 29 Used the $220,000 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. (Do not round intermediate calculations, Round your ratios to 2 decimal places and the working capitals to nearest dollar amount. Subtracted amount should be indicated with a minus sign.) Transaction Beginning May 2 Current Assets Quick Assets Current Liabilities 900,000 $ 630,000 $ 450,000 Current Ratio Acid-Test Ratio Working Capital 2.00 1.40 $ 450.000 Balance May 8 Balance