Assets BIRTLE CORPORATION 2017 and 2018 Statement of Financial Position 2017 2018 Liabilities and Owners' Equity 2017 2018 Current assets Current liabilities Cash $ 9,279 $ 11,173 Accounts payable Accounts receivable 23,683 25,760 Notes payable Inventory 42,636 46.915 Total Total $ 75.598 $83.848 Long-term debt $ 40,000 $ 41,060 16,157 $ 57.217 $ 43.805 16,843 $ 60,648 $ 35,000 Fixed assets Owners' equity Net plant and equipment 272,047 297.967 Common stock and paid-in surplus $ 50,000 $ 50,000 Retained earnings 200,428 236,167 Total $250,428 $286,167 Total assets $347,645 $381,815 Total liabilities and owners' equity $347.645 $381,815 14. Preparing Standardized Financial Statements (LO2) Prepare the 2014 and 2015 common-size statement of financial position for Birtle. 15. Preparing Standardized Financial Statements (LO2) Prepare the 2014 common-base year statement of financial position for Birtle. 16. Preparing Standardized Financial Statements (L02) Prepare the 2015 combined common-size, common-base year statement of financial position for Birtle. 17. Sources and Uses of Cash (LO1) For each account on Birtle Corporation's statement of financial position, show the change in the account during 2018 and note whether this change was a source or use of cash. Do your numbers add up and make sense? Explain your answer for total assets as compared to your answer for total liabilities and owners' equity. 18. Calculating Financial Ratios (L03) Based on the statement of financial position given for Birtle, calculate the following financial ratios for each year: a. Current ratio b. Quick ratio c. Cash ratio d. NWC to total assets ratio e. Debt-equity ratio and equity multiplier f. Total debt ratio and long-term debt ratio