Accounts Payable Accounts Receivable $ 15,000 $ 16,000 Accumulated Depreciation - Equipment 32,000 Cash 25,000 Depreciation Expense- Equipment 10,000 Equipment 65,000 Insurance Expense 4,000 Interest Expense 3,000 Notes Payable (due March 31, 2020) 10,000 Office Supplies 4,000 Office Supplies Expense 1,000 Prepaid Insurance 10,000 Salaries Expense 15,000 Salaries Payable 5.000 Service Revenue 50,000 Unearned Revenue (short- term) 8,000 Utilities Expense 4,000 Wilson, Capital, December 31, 2017 42.000 Wilson, Withdrawals 5,000 Totals $ 162,000 $162,000 a. Prepare the closing entries. Omit explanations. b. Prepare, in good form, the income statement, statement of owner's equity, and balance sheet. There were no new capital contributions during the year. c. Compute the current ratio. Label your work. Comment on the current ratio.