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Problem 13-3A (Algo) Transactions, working capital, and liquidity ratios LO P3 Plum Corporation began the month of May with $1,500,000 of current assets, a current ratio of 2.801 , and an acid-test ratio of 1501 During the month, it completed the following transactions (the company uses a perpetual inventory system). May 2 Purchased $65,000 of merchandise inventory on credit. May 8 Sold merchandise inventory that cost $59,000 for $145,000cash. May 18 collected $24,609 cash on an account-receivable. May 15 Paid $26,500 cash to settle an account payable. May 17 Wrote off a $5,000 bad debt against the Allowance for Doubtful Accounts account. May 22 Declared o $1 per share cash dividend on its 63 , e9s shares of outstanding common stock. May 26 Patd the dividend declared on May 22. May 27 Borrowed $100,000 cash by giving the bank a 30 -day, 10x note. May 28 forrowed $120,000 cash by signing a long-term secured note. May 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. Note: Do not round intermediate calculations. Round your rotios to 2 decimal places and the working capitals to nearest dollar amount. Amounts to be deducted should be indicated with o minus sign. Complete the table below showing Plum's (1) current ratio, (2) acid-test ratio, and (3) working capital after each transaction. Note: Do not round intermediate calculations. Round your ratios to 2 decimal places and the working capitals to nearest dollar amount. Amounts to be deducted should be indicoted with a minus sign