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Bethesda Mining Company reports the following balance sheet information for 2015 and 2016. Bethesda Mining Company reports the following balance sheet information for 2015 and
Bethesda Mining Company reports the following balance sheet information for 2015 and 2016.
Bethesda Mining Company reports the following balance sheet information for 2015 and 2016. 2015 2015 2016 Assets Current assets Cash Accounts receivable Inventory Total $ 47,858 61,781 124,912 $ 234,551 BETHESDA MINING COMPANY Balance Sheets as of December 31, 2015 and 2016 2016 Liabilities and Owners' Equity Current liabilities $ 60,783 Accounts payable 82,139 Notes payable 190.747 Total $ 333,669 Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings $ 589,628 $ 923,297 Total liabilities and owners' equity $ 190,422 85,520 $ 275,942 $ 238,000 $ 198,111 137,088 $ 335,199 $ 174,750 Fixed assets Net plant and equipment Total assets Total $ 217,000 161,656 $ 378,656 $ 892,598 $ 217,000 196,348 $ 413,348 $ 923,297 $ 658,047 $ 892,598 Based on the balance sheets given for Bethesda Mining, 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.) 2015 2016 Current ratio times times b. Quick ratio. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Quick ratio times 2015 2016 times c. Cash ratio. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) 2015 2016 Cash ratio times times d. Debt-equity ratio and equity multiplier. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Debt-equity ratio times times Equity multiplier times 2015 2016 times e. Total debt ratio. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Total debt ratio times 2015 2016 timesStep by Step Solution
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