Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Bethesda Mining Company reports the following balance sheet Information for 2021 and 2022 Assets Current assets 2021 BETHESDA MINING COMPANY Balance Sheets as of

image text in transcribedimage text in transcribed

Bethesda Mining Company reports the following balance sheet Information for 2021 and 2022 Assets Current assets 2021 BETHESDA MINING COMPANY Balance Sheets as of December 31, 2021 and 2022 Liabilities and Owners' Equity Current liabilities 2022 Cash $ 67,906 Accounts receivable $ 85,508 86,139 180,234 Inventory Total $ 249,186 $ 351,881 65,781 115,499 Accounts payable Notes payable Total Long-term debt Owners' equity 2021 2022 $186,422 81,520 $194,111 133,088 $327.199 $ 267,942 $ 230,000 $166,750 Net plant and equipment $ 658,847 $590,028 $225,000 185,091 $410,091 $225,000 222,960 $447,960 Total assets $ 988,833 $ 941,909 Total liabilities and owners' equity $ 908,033 $941,909 Fixed assets Common stock and paid-in surplus Accumulated retained earnings Total Based on the balance sheets given, calculate the following financial ratios for each year: Calculate the following financial ratios for each year. a. Current ratio. Note: Do not round Intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. b. Quick ratio. Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. c. Cash ratio. Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. d. Debt-equity ratio and equity multiplier. Note: Do not round Intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. e. Total debt ratio. Note: Do not round Intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. Itimes Based on the balance sheets given, calculate the following financial ratios for each year: Calculate the following financial ratios for each year. a. Current ratio. Note: Do not round Intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. b. Quick ratio. Note: Do not round Intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. c. Cash ratio. Note: Do not round Intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. d. Debt-equity ratio and equity multiplier. Note: Do not round Intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. e. Total debt ratio. Note: Do not round Intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. a. 2021 Current ratio 2022 Current ratio b. 2021 Quick ratio 2022 Quick ratio times times times times c. 2021 Cash ratio times 2022 Cash ratio times d. 2021 Debt-equity ratio times 2021 Equity multiplier times 2022 Debt-equity ratio times 2022 Equity multiplier times e. 2021 Total debt ratio: times 2022 Total debt ratio times

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

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

Get Started

Recommended Textbook for

Essentials Of Corporate Finance

Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan

11th Edition

1265414963, 978-1265414962

More Books

Students also viewed these Finance questions