Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Assets 2017 2018 Current assets Cash Accounts receivable Inventory Total $ 43.805 16, 843 $ 9. 279 23, 683 42, 636 $ 76,598 DEKILE UURPUKATLUN

image text in transcribed

Assets 2017 2018 Current assets Cash Accounts receivable Inventory Total $ 43.805 16, 843 $ 9. 279 23, 683 42, 636 $ 76,598 DEKILE UURPUKATLUN 2017 and 2018 Statement of Financial Position Liabilities and Owners' Equity 2018 2017 Current liabilities $ 11, 173 Accounts payable $ 41,060 25, 760 Note: payable 16, 157 46, 915 $ 83, 848 Total $ 57. 217 Long-term debt $ 40.000 Owners' equity $ 297. 967 Common stock and paid-in surplus $ 50,000 Retained earnings 200, 428 Total $ 250,428 $ 381, 815 Total liabilities and owners' equitz $ 347, 645 $ 60, 648 $ 35,000 Fixed Assets Net plant and equipment $ 272, 047 $ 50.000 236, 167 $ 286, 167 3 381, 815 Total assets $ 347, 645 Based on the statement of financial position given for Birtle: a. Calculate the current ratio for each year. (Round the final answers to 2 decimal places.) 2018 2017 times Current ratio times b. Calculate the quick ratlo for each year. (Round the final answers to 3 decimal places.) Quick ratio 2017 times 2018 times c. Calculate the cash ratlo for each year. (Round the final answers to 3 decimal places.) 2018 2017 tines Cash ratio cimes d. Calculate the NWC to total assets ratio for each year. (Round the final answers to 1 decimal place.) 2017 2018 NTC ratio e. Calculate the debt-equity ratio and equity multiplier for each year. (Round the final answers to 2 decimal places.) 2017 2018 tines times Debt-equity ratio Equity multiplier 1. Calculate the total debt ratio and long-term debt ratio for each year. (Round the final answers to 3 decimal places.) 2017 2018 Total debt ratio Long-term debt ratio tines tines tines times

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions