The following information was drawn from the 2017 balance sheets of the Cedar and Maple companies: Current assets Current liabilities Cedar $40,000 25,000 Maple $70,000 55,000 Required a. Compute the current ratio for each company. (Round your answers to 1 decimal place.) Current Ratio Cedar Maple to 1 to 1 I b. Which company has the greater likelihood of being able to pay its bills? Cedar Maple c. Assume that both companies have the same amount of total assets. Speculate as to which company would produce the higher return on assets ratio. O Maple O Cedar Harden Co. issued a $60,000 face value discount note to National Bank on July 1, 2016. The note had a 6 percent discount rate and a one-year term to maturity. Required Prepare general joumal entries for the following transactions: (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) a. The issuance of the note on July 1, 2016. b. The adjustment for accrued interest at the end of the year, December 31, 2016. c. Recording interest expense for 2017 and repaying the principal on June 30, 2017 View transaction list Journal entry worksheet