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Information for Ayayai Corp. is given below: Ayayai Corp. Balance Sheet December 3 1 , 2 0 2 6 Assets Cash Accounts receivable ( net
Information for Ayayai Corp. is given below:
Ayayai Corp.
Balance Sheet
December
Assets
Cash
Accounts receivable net
Inventories
Plant and equipment, net of depreciation
Patents
Other intangible assets
Total Assets
$
$
Equities
Accounts payable
Income taxes payable
Miscellaneous accrued payables
Bonds payable due
Preferred stock $ par, cumulative nonparticipating
Common stock no par, shares authorized, issued and outstanding
Retained earnings
Treasury stock shares of preferred
Total Equities
$
$
Ayayai Corp.
Income Statement
Year Ended December
Net sales
$
Cost of goods sold
Gross profit
Operating expenses including bond interest expense
Income before income taxes
Income tax
Net income
$
Additional information: There are no preferred dividends in arrears, the balances in the Accounts Receivable and Inventory accounts are unchanged from January and there were no changes in the Bonds Payable, Preferred Stock, or Common Stock accounts during Assume that preferred dividends for the current year have not been declared.
At December the current ratio would be computed as follows:
$: $
$: $
$: $
$: $
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