elected account balances before adjustments of the MNO Company at December 31, 2019 were as follows: Debit Credit $12.500 28,200 6.270 5.620 61.650 $9,700 50,000 1 2.300 Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation Accounts Payable Supplies Expenses Taxes Payable Common Stock Retained Earnings Merchandise Inventory Fees Earned Utilities Expense Miscellaneous Expense Wages Expense Depreciation Expense Insurance Expense Unearned Fees equired 111 31,000 39,000 27.000 o 35.000 69.125 3.715 2.505 25,415 1.500 1.200 / / 1 200 a. Compute the current ratio of the company for the year 2019. b. Explain the meaning to your boss, the chief executive