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Problem $17-3$A Analysis of working capital LO$4$

Hallfax Fisheries Inc. began the month of March with $$772,000$ of current assets, a current ratio of $2\mathrm{.}5$ to $1,$ and a quick ratio of $1\mathrm{.}1$ to $1.$ During the month, it completed the following transactions:

Mar. $6$ Bought $$87,200$ of merchandise on account. $($The company uses a perpetual inventory system.$)$

$11$ Sold merchandise that cost $$72,400$ for $$124,000.$

$15$ collected a $$31,200$ account receivable.

$17$ Paid a $$33,200$ account payable.

$19$ Wrote off a $$15,200$ bad debt against Allowance for Doubtful Accounts.

$24$ Declared a $$2\mathrm{.}35$ per share cash dividend on the $42,200$ outstanding common shares.

$28$ Paid the dividend declared on March $24.$

$29$ Borrowed $$96,000$ by giving the bank a $30-$day, $12\%$ note.

$30$ Borrowed $$122,000$ by signing a long$-$term secured note.

$31$ Used the $$218,000$ proceeds of the notes to buy additional machinery.

Requlred:

Prepare a schedule showing Halifax Fisherles Inc.$\text{'}$s current ratio, quick ratio, and working capital after each of the transactions. $($Round ratios to $2$ decimal places and other final answers to nearest whole dollar.$)$

$\backslash$table$[[$Transaction$,\backslash$table$[[$Current$],[$Assets$]],\backslash$table$[[$Quick$],[$Assets$]],\backslash$table$[[$Current$],[$Liabilities$]],$Current Ratio,Quick Ratio,$\backslash$table$[[$Working$],[$Capital$]]],[$Beginning$,,,,1,1,],[$Mar$.6],[$Bal$.,,,,1,1,],[$Mar$.11],[,,,,,,],[$Bal$.,,,,1,1,],[$Mar$.15],[,,,,$mas,,$],[$Bal$.,,,,1,1,],[$Mar$.17],[$Bal$.,,,,1,1,],[$Mar$.19],[$Bal$.,,,-,1.,1,],[$Mar$.24],[$Bal$.,,,,1,1,],[$Mar$.28],[$Bal$.,,,,1,1,],[$Mar$.29],[$Bal$.,,,,1,1,],[$Mar$.30],[$Bal$.,,,,1,1,],[$Mar$.31],[$Bal$.,5,,,1,1,]]$

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