1 (20 marks) Financial statement data of Benjamin Engineering include the following items. S S Cash 25,000 Short term notes payable 41,000 Short-term investments- 38,000 Accounts payable 101,000 Accounts receivable, net 82,000 Accrued liabilities 37,000 Inventories Prepaid expenses 149,000 Long-term notes payable 160,000 Total assets Fixed and current assets 6,000 Other long term liabilities 674,000 Net income 37,000 96,000 Number of ordinary shares outstanding-52,000 Required: 1. Compute Benjamin's current ratio, debt ratio and earnings per share (EPS) Round all ratios to two decimal places. The debt ratio Total liabilities Total assets 2. Compute the three ratios after evaluating the effect of each transaction that follows Consider each transaction separately. If there is no change, state "No Effect". a Bonowed $135,000 on a long term note payable b Issued 40,000 ordinary shares, receiving cash of $360.000 Paid short term notes payable, $28,000 d. Purchased inventories of $44,000 on account e Received cash on accomt $16.000