Exercise 3-26 (Algo) Computing the current ratio LO A1 Use the information in the following adjusted trial balance for the Wilson Trucking Company. Account Title Cash Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Debit Credit $ 9,000 16,500 2,000 167,000 $ 34,402 75,000 13,000 Accounts payable Interest payable Long-term notes payable Common stock Retained earnings Dividends Trucking revenue Depreciation expense-Trucks Salaries expense Office supplies expense Interest expense Totals 3,000 58,000 20,557 140,000 19,000 107,000 22,189 50,183 5,885 9,202 $ 375,959 $ 375,959 (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 obligations? 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 < Required A Required B > Complete this question by entering your answers in the tabs below. Required A Required B Assuming Spalding (a competitor) has a current ratio of 1.5, which company is better able to pay its short-term obligations? Assuming Spalding (a competitor) has a current ratio of 1.5, which company is better able to pay its short-term obligations? < Required A Required B >