/ext/map/index.html_cono &launched https%253A%252F%252Fims.meducation.com 252mgmiddleware Saved Help 5 Plum Corporation began the month of May with $900,000 of current assets, a current ratio of 2.701, and an acid test ratio of 1701 During the month. it completed the following transactions (the company uses a perpetual inventory system) May 2. Purchased $70,000 of merchandise inventory on credit. 8 Sold merchandise inventory that cost $60,000 for $155,000 cash. 10 Collected $29,000 cash on an account receivable. 15 Paid $30,000 cash to settle an account payable. 17 Wrote off a $5,000 bad debt against the Allowance for Doubtfol Accounts account. 22 Declared a $1 per share cash dividend on its 61,000 shares of outstanding common stock. 26 Paid the dividend declared on May 22. 27 Borrowed $115,000 cash by giving the bank a 30 day, 10% note. 28 Bocrowed $130,000 cash by signing a long-term secured note 29. Used the $245,000 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.) Current Assets Transaction Current Ratio Quick Assets Current Liabilities Acid. Test Ratio Working Capital 566,667 1 70 5 S Beginning 2.70 900.000 $ 566 667 $ 333 333 May 2 333333 900 000 Balance Mau 1.1 HIE ex 900,000 333,333 2.70 1.7015 Beginning May 2 566 667 Balance 900,000 333 333 May 8 Balance May 10 Balance May 15 Balance May 17 Balance May 22 Balance em con concernal browser launch https%253 Fimi medication Hele May 22 Balance May 26 Balance May 27 Balance May 28 Balance May 29 + Balarice 1 of 1 Next