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Use the information in the following adjusted trial balance for the Wilson Trucking Company. Cash Accounts receivable office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable

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Use the information in the following adjusted trial balance for the Wilson Trucking Company. Cash Accounts receivable office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable K. Wilson, Capital K. wilson, withdrawals Trucking fees earned Depreciation expense-Trucks 23,119 Salaries expense office supplies expense Repairs expense-Trucks10,105 Totals $8,500 16,500 2,000 174,000 s 35, 844 75,000 12, 500 3,000 52,000 168,951 19,000 117, 500 55,108 6,463 $389,795 $389,795 I. Calculate the current ratio (Assume that the industry average for the current ratio is 1 5 Current Ratio Choose Denominator:Current Current ratio 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

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