The balance sheet for AJAX Cleaners Inc. appears below: AJAX Cleaners Inc. Balance Sheet Assets:...
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Accounting
The balance sheet for AJAX Cleaners Inc. appears below: AJAX Cleaners Inc. Balance Sheet Assets: December 31, 2021 Cash $400 Accounts receivable 460 Supplies 10 Prepaid insurance 60 Equipment $400 Less: Acc. depreciation 40 360 Land 400 Total assets Liabilities: $1,690 Accounts payable $300 Salary payable 20 Unearned revenue 120 Note payable (due in 5 years) 400 Total liabilities Shareholders Equity: 840 Common shares 370 Retained earnings 480 Total shareholders equity 850 Total liabilities and shareholders equity $1,690. AJAXs debt ratio for 2021 is? A. 0.41 B. 0.99 C. 0.50 D. 0.72
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