Use the information in the following adjusted trial balance for the Wilson Trucking Company. Account Title Debit Credit Cash $ 6,600 Accounts receivable 16,500 Office supplies 2,000 Trucks 169,000 Accumulated depreciationTrucks $ 34,814 Land 75,000 Accounts payable 10,600 Interest payable 3,000 Long-term notes payable 52,000 K. Wilson, Capital 154,957 K. Wilson, Withdrawals 19,000 Trucking fees earned 141,500 Depreciation expenseTrucks 22,455 Salaries expense 66,364 Office supplies expense 7,783 Repairs expenseTrucks 12,169 Totals $ 396,871 $ 396,871

1. Calculate the current ratio. Assume that the industry average for the current ratio is 1.5. 2. Compare Wilson's current ratio with the industry average. Wilson's current ratio is above the industry average. Wilson's current ratio is below the industry average.

1. Calculate the current ratio. Assume that the industry average for the current ratio is 1.5.

2. Compare Wilson's current ratio with the industry average.

• Wilson's current ratio is above the industry average.

• Wilson's current ratio is below the industry average.