Ajax Corporation Statement of Financial Position December 31, 2023 \begin{tabular}{|l|r|r|} \hline Assets & 2023 & 2022 \\ \hline Cash & 131,560 & 70,400 \\ \hline Accounts Receivable & 110,040 & 95,760 \\ \hline Inventory & 217,300 & 209,200 \\ \hline Office Supplies & 1,760 & 2,600 \\ \hline Prepaid Insurance & 2,340 & 1,760 \\ \hline Property, Plant and Equipment & 578,000 & 472,000 \\ \hline Accumulated Depreciation & (187,360) & (117,360) \\ \hline Patent & 25,860 & 20,000 \\ \hline Total Assets & 879,500 & 754,360 \\ \hline Liabilities and Shareholders' Equity & & \\ \hline Accounts Payable & 200,500 & 189,080 \\ \hline Income Tax Payable & 7,500 & 5,000 \\ \hline Interest Payable & 3,000 & 4,000 \\ \hline Salaries Payable & 9,500 & 6,800 \\ \hline Notes Payable, due Dec. 31, 2025 & 157,000 & 180,000 \\ \hline Total Liabilities & 377,500 & 384,880 \\ \hline & & \\ \hline Common Shares, (50,000 shares issued) & 435,000 & 330,000 \\ \hline Retained Earnings & 67,000 & 39,480 \\ \hline Total Liabilities and Shareholders' Equity & 879,500 & 754,360 \\ \hline \end{tabular} Additional information for 2023: Additional information for 2023 : 1. Total cash provided by operating activities was $101,020. 2. Net income was $37$20. Total gross profit was $204,200. 3. Total sales of 5480000 were on credit. 4. The cost of goods sold was $275,800. 5. Interest expense was $11$60. 6. Income tax expense was $12,000. 7. Total cash dividends declared and paid were $10,000. 8. Share issoed and outstanding were the same throughout the year. 9. Average market price per share was $18. hint: Do not include units when you enter your answer in the exam. For instance, enter 10.25 NOT 10.25%. Round to 2 decimal places. Current ratio (current assets / current liabilitics) Debt to Total Assets (Total liabilities / total assets) Eamings per shares ((Net income - preferred dividends) / weighted average number of common shares) Inventory tumover (Cost of goods sold / average inventoty) Receivables turnover (Net eredit sales / Average gross accounts receivablo) Times Interest Earned ((Net income + interest expense + income tax expense) / interest expense) Click on this link Ratio Calculation Final Exam FE1.xlsx to read the question and calculate the 2023 ratios. You must enter your answers below. Current ratio (Current assets/Current liabilities) Debt to Total Assets (Total liabilities / total assets) A. Earnings Per Share (EPS) (Net Income - Preferred dividends) / weighted average number of common shares Ay Inventory Turnover (Cost of goods sold / average inventory) A Receivables Turnover ( Net credit sales / Average gross accounts receivable) Times Interest Earned ( Net income + interest expense + income tax expense) / interest expense
