Consider the following balance sheet for Ajax Industries: Ajax Industries Statement of Financial Condition December 31,...

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Consider the following balance sheet for Ajax Industries: Ajax Industries Statement of Financial Condition December 31, Year 1 Assets: Cash and marketable securities Accounts receivable Short-term securities Inventories Current assets Equipment Net plant and property Fixed assets $24,310 11,474 81,223 $204,372 29,230 365,879 Liabilities and equity: Accounts payable Accruals for wages and taxes Current maturity of long-term debt outstanding Current liabilities Intermediate-term loans Long-term debt outstanding Total liabilities Common stock Retained earnings Total equity Total assets $599,481 Total liabilities and equity Which of the following selections relating to these statements is true? $16,225 125,565 $168,780 45,473 $359,687 100,000 $239,794 $599,481 O a. The Accounts receivable account has a balance of $87,365, while the Accruals account and Retained earnings account have balances of $26,990 and $139,794, respectively. b. The Accruals account has a balance of $87,365, while the Fixed assets account and Retained earnings accounts have balances of $139,794 and $145,434, respectively. c. The Accruals account has a balance of $26,990, while the Long-term debt and Retained earnings accounts have balances of $145,434 and $395,109, respectively. d. The Accounts receivable account has a balance of $145,434, while the Accruals account and the Retained earnings account have Consider the following balance sheet for Ajax Industries: Ajax Industries Statement of Financial Condition December 31, Year 1 Assets: Cash and marketable securities Accounts receivable Short-term securities Inventories Current assets Equipment Net plant and property Fixed assets $24,310 11,474 81,223 $204,372 29,230 365,879 Liabilities and equity: Accounts payable Accruals for wages and taxes Current maturity of long-term debt outstanding Current liabilities Intermediate-term loans Long-term debt outstanding Total liabilities Common stock Retained earnings Total equity Total assets $599,481 Total liabilities and equity Which of the following selections relating to these statements is true? $16,225 125,565 $168,780 45,473 $359,687 100,000 $239,794 $599,481 O a. The Accounts receivable account has a balance of $87,365, while the Accruals account and Retained earnings account have balances of $26,990 and $139,794, respectively. b. The Accruals account has a balance of $87,365, while the Fixed assets account and Retained earnings accounts have balances of $139,794 and $145,434, respectively. c. The Accruals account has a balance of $26,990, while the Long-term debt and Retained earnings accounts have balances of $145,434 and $395,109, respectively. d. The Accounts receivable account has a balance of $145,434, while the Accruals account and the Retained earnings account have

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