Bethesda Mining Company reports the following balance sheet information for 2018 and 2019. BETHESDA MINING COMPANY Balance
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Bethesda Mining Company reports the following balance sheet information for 2018 and 2019. |
BETHESDA MINING COMPANY Balance Sheets as of December 31, 2018, and 2019 | |||||||||||||
2018 | 2019 | 2018 | 2019 | ||||||||||
Assets | Liabilities and Owners’ Equity | ||||||||||||
Current assets | Current liabilities | ||||||||||||
Cash | $ | 63,014 | $ | 79,447 | Accounts payable | $ | 187,422 | $ | 195,111 | ||||
Accounts receivable | 64,781 | 85,139 | Notes payable | 82,520 | 134,088 | ||||||||
Inventory | 117,852 | 182,862 | |||||||||||
Total | $ | 269,942 | $ | 329,199 | |||||||||
Total | $ | 239,647 | $ | 347,448 | |||||||||
Long-term debt | $ | 230,000 | $ | 166,750 | |||||||||
Owners’ equity | |||||||||||||
Common stock and paid-in surplus | $ | 225,000 | $ | 225,000 | |||||||||
Accumulated retained earnings | 185,091 | 222,960 | |||||||||||
Fixed assets | |||||||||||||
Net plant and equipment | $ | 658,847 | $ | 590,028 | Total | $ | 410,091 | $ | 447,960 | ||||
Total assets | $ | 908,033 | $ | 941,909 | Total liabilities and owners’ equity | $ | 908,033 | $ | 941,909 | ||||
Calculate the following financial ratios for each year: | |
a. | Current ratio. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) |
b. | Quick ratio. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) |
c. | Cash ratio. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) |
d. | Debt-equity ratio and equity multiplier. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) |
e. | Total debt ratio. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) |
Related Book For
Intermediate Accounting
ISBN: 978-0324592375
17th Edition
Authors: James D. Stice, Earl K. Stice, Fred Skousen
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