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Use the information in the following adjusted trial balance for the Wilson Tracking Company. Account Title Debit Credit $ 9,700 Cash Accounts receivable 16,500
Use the information in the following adjusted trial balance for the Wilson Tracking Company. Account Title Debit Credit $ 9,700 Cash Accounts receivable 16,500 Office supplies 2,000 Trucks 196,000 Accumulated depreciation-Trucks $ 40,376 Land 75,000 Accounts payable 13,700 Interest payable 3,000 Long-term notes payable 58,000 Common stock 48,023 Retained earnings 140,000 Dividends 19,000 Trucking revenue 105,500 Depreciation expense-Trucks 26,043 Salaries expense 49,480 Office supplies expense 5,803 9,073 $ 408,599 $ 408,599 Interest expense Totals (a) Calculate the current ratio for Wilson Trucking. (b) Assuming Spalding (a competitor) has a current ratio of 1.5, which company is better able to pay its short-term obligatio Complete this question by entering your answers in the tabs below. Required A Required B Calculate the current ratio for Wilson Trucking. Numerator Current Ratio Denominator Current Ratio 7 Required A Required B>
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