Test Corporation Balance Sheet December 31, 2013 and 2012 Current Assets Cash Trade receivables, net ofan allowance of$140,091 for 2013 and $80,779 for 2012. Supplies inventory Prepaid expenses Total current assets Property and Equipment Equipment Furniture and Fixtures Vehicles Less accumulated depreciation Property and cquipment, net Intangible assets Total assets Current liabilities Accounts payable Accrued compensation Deferred revenue Dividends payable Current maturities of long-term debt Total current liabilities Long-term debt, less current maturities Total liabilities Stockholders' Equity Contributed capital Retained eamings (deficit Total liabilities and stockbolder's equity 2013 2012 501,493 S 643,826 .215,167 899,210 33,078 03.269 760 412,656 3.236,498 2,058,96 20,000 120,000 22,701,718 20.116.347 1,687,395 1.388,521 ,064,79 930,487 25,573,904 22,555,355 9,428,903 7,228,589 6,145,00 5,326,766 2,649,039 556,996 2.500,90 2,68 $24,531,443 S20,623,839 S 77,198 1,029,678 894,726 747,42 265,078 429,028 250,000 23,68 ,416,305 3,710,683 3,622,432. 9,233,730 6,647,278 2,944,413 0.269,710 2,781,236 2,601,370 (1,194.206) 2,247,24 $24,531,443 S20,623,839 Test Corporation Income Statement For the Year ending December 31,2013 201 Service revenue (net S 18,107,802 Cost of services provided 8,513.312 Gross profit 9,594,490 Selling, general and administrative expenses 5,508476 Depreciation and amortization 2,487,845 Operating income 2,029,137 Interest expense (569,037 Investment income 72,935 Net income $1,553,035 Required: a. Calculate the current ratio at 1231/13. Test has a clause in a loan agreement that requires it maintain a current ratio greater than one. IsTest in compliance with the terms ofthe contract? b. Determine the cash generated from selling shares of stock during 2013. c. Determine dividends paid during 2013. d. Assuming there were no vehicle sales during 2013 determine the cost of vehicles purchased during the year