Problem $17-3$A $($Algo$)$ Transactions, working capital, and liquidity ratios LO P$3$

Plum Corporation began the month of May with $$1,000,000$ of current assets, a current ratio of $2\mathrm{.}40$:$1,$ and an acid$-$test ratio of $1\mathrm{.}30$:$1.$ During the month, it completed the following transactions $($the company uses a perpetual inventory system$).$

May $2$Purchased $$70,000$ of merchandise inventory on credit.May $8$Sold merchandise inventory that cost $$55,000$ for $$135,000$ cash.May $10$Collected $$31,000$ cash on an account receivable.May $15$Paid $$25,000$ cash to settle an account payable.May $17$Wrote off a $$5,000$ bad debt against the Allowance for Doubtful Accounts account.May $22$Declared a $$1$ per share cash dividend on its $63,000$ shares of outstanding common stock.May $26$Paid the dividend declared on May $22.$May $27$Borrowed $$120,000$ cash by giving the bank a $30-$day, $10\%$ note.May $28$Borrowed $$135,000$ cash by signing a long$-$term secured note.May $29$Used the $$255,000$ 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 ratios to $2$ decimal places and the working capitals to nearest dollar amount. Amounts to be deducted should be indicated with a minus sign.