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1) Wilson Engraving just completed operations for the year ending December 31, 2018. Accounts from...

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Accounting

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1) Wilson Engraving just completed operations for the year ending December 31, 2018. Accounts from the adjusted trial balance dated December 31,2018 are listed order below: in alphabetical Balance Debit Credit Accounts Payable Accounts Receivable S 16,000 Accumulated Depreciation - Agwpment erafion 32,000 Cash 25,000 Depreciation Expense Equipment 10,000 65,000 Equipment Insurance Expense 4 nterest Expense Notes Payable (due March 31,2020) Office Supplies Office Supplies Expense Prepaid Insurance Salaries Expense Salaries Payable Service Revenue Unearned Revenue (short- erm Utilities Expense Wilson, Capital, December 31,2017 Wilson, Withdrawals 10,000 4,000 1,000 10. 15,000 50 8,000 4,000 42,000 Totals Requirement: a. Prepare the closing entries. Omit explanations. (10 points) b. Prepare, in good form, the income statement, statement of owner's equity, and a report format balance sheet. There were no new capital contributions during the year. (35 points) c. Compute the current ratio. Label your work. (5 ponts)

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