Required information The following information applies to the questions displayed below Edward Allen Interiors Inc. is a leading manufacturer and retailer of home furnishings in the United States and abroad. The following is adapted from Edward Allen's September 30, 2016, trial balance. (The amounts shown represent millions of dollars.) s 132 148 38 Accounts Payable Accounts Receivable Cash Common Stock Equipment Inventory Notes Payable (long-term) Notes Payable (short-term) Prepaid Rent Retained Earnings Salaries and Wages Payable Software 375 176 235 32 389 4e 75 Assume that the following events occurred in the following quarter. a Paid $35 cash for additional inventory b. Issued additional shares of common stock for $15 in cash. c Purchased equipment for $210; paid $100 in cash and signed a note to pay the remaining $110 in two years. d Signed a short-term note to borrow $15 cash. e. Conducted negotiations to purchase a sawmill, which is expected to cost $38. Required 1-a. Calculate Edward Allen's current ratio at September 30, 2016, prior to the transactions listed above. (Round your answer to 2 decimal places.) rent Ratio 1-b. Based on the above calculation and analysis of TripAdvisor's current ratio 4.73, indicate which company is in a better position to pay liabilities Edward Allen TripAdviso