MAINS DUVITY RIICY Adjusted Trial Balance December 31, 2018 Account Title Balance Debit Credit Cash $ 20,000 Accounts Receivable 2,900 Office Supplies Prepaid Insurance Land 1,150 2,700 20,000 145,000 Building Accumulated Depreciation-Building $ 7,000 43,000 20,000 Equipment Accumulated Depreciation Equipment Accounts Payable Utilities Payable Salaries Payable 4.800 625 3,800 Unearned Revenue 1.900 Print Done Equipment 10,000 20.000 Accumulated Depreciation Equipment Accounts Payable Utilities Payable Salaries Payable 4,800 625 3,800 Unearned Revenue 1,900 Common Stock 106,000 Retained Earnings 114,250 Dividends 31,000 85,000 26,000 28,000 Service Revenue Insurance Expense Salaries Expense Supplies Expense Utilities Expense Depreciation Expense-Equipment & 1,300 15,000 7,000 325 Depreciation Expense-Building $ 343,375 $ 343,375 Total Print Done 6 Requirements D 1. Prepare the closing entries for Mark's Bowling Alley. 2. Prepare a post-closing trial balance. 3. Compute the current ratio for Mark's Bowling Alley. Start by closing revenues. Date Accounts and Explanation Debit Credit Dec 31 Clos (1) Close expenses for the period Date Accounts and Explanation Debit Credit Dec 31 Clos (2) Choose from any list or enter any number in the input fields and then continue to the next question. Close Income Summary Date Accounts and Explanation Debit Credit Dec 31 Clos (3) Close Dividends Date Accounts and Explanation Debit Credit Dec 31 Clos (4) Requirement 2. Prepare a post-closing trial balance. Mark's Bowling Alley Post-Closing Trial Balance December 31, 2018 Balance Account Title Debit Credit 4 Choose from any list or enter any number in the input fields and then continue to the next Requirement 3. Compute the current ratio for Mark's Bowling Alley Select the labels enter the amounts, then compute the current ratio (Round your answer to two decimal places) Current ratio