BETHESDA MINING COMPANY Balance Sheets as of December 31, 2015 and 2016 2016 2015 Assets 2016 Current assets Cash Accounts receivable Inventory Total $ 19,256 46,396 109,626 $175,278 $ 21,946 54,486 129.253 $205.685 2015 Liabilities and Owners' Equity Current liabilities Accounts payable $171,531 Notes payable 79.218 Total $250,749 Long-term debt $255,000 Owners' equity Common stock and paid in surplus $160,000 Accumulated retained eamings 214915 Total $374,915 Total liabilities and owners' equity $880,664 $153,984 107,606 $261,590 $278.500 Fixed assets Net plant and equipment $705,386 Total assets S880,664 $785,205 $990,090 $170.000 280.800 $450,000 5990,890 LO 1 LO 2 15. Preparing Standardized Financial Statements. Prepare the 2015 and 2016 common-size balance sheets for Bethesda Mining 16. Calculating Financial Ration. Based on the balance sheets given for Bethesda Mining, calculate the following financial ratios for each year: a. Current ratio b. Quick ratio c. Cash ratio d. Debt-equity ratio and equity multiplier e. Total debt ratio 17 DuPont identity Suppose that the Bethesda Mining Company had sales of $2,945,376 and net income of $89.351 for the year ending December 31. 2016. Calculate the DuPont identity LO 3 LO 115. Preparing Standardized Financial Statements. Prepare the 2015 and 2016 common-size balance sheets for Bethesda Mining. LO 2 16. Calculating Financial Ratios. Based on the balance sheets given for Bethesda Mining, calculate the following financial ratios for each year: a. Current ratio b. Quick ratio Cash ratio d. Debt-equity ratio and equity multiplier e. Total debt ratio LO 3 17. DuPont Identity Suppose that the Bethesda Mining Company had sales of 52,945,376 and net income of $89.351 for the year ending December 31, 2016. Calculate the DuPont identity c. 2016 BETHESDA MINING COMPANY Balance Sheets as of December 31, 2015 and 2016 2015 2016 2015 Assets Liabilities and Owners' Equity Current assets Current liabilities Cash $ 19,256 $ 21,946 Accounts payable $171,531 Accounts receivable 46,396 54,486 Notes payable 79.218 Inventory 109,626 129,253 Total $250,749 Total $175,278 $205,685 Long-term debt $255,000 Owners' equity Common stock and paid in surplus $160,000 Fixed assets Accumulated retained earnings 214,915 Net plant and equipment $705,386 $785,205 Total $374,915 Total assets $880,664 $990,890 Total liabilities and owners' equity $880,664 $153,984 107.606 $261,590 $278,500 $170,000 280.800 $450,800 $990.890