Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Bethesda Mining Company reports the following balance sheet information for 2013 and 2014. BETHESDA MINING COMPANY Balance Sheets as of December 31, 2013 and

image text in transcribedimage text in transcribedimage text in transcribed

Bethesda Mining Company reports the following balance sheet information for 2013 and 2014. BETHESDA MINING COMPANY Balance Sheets as of December 31, 2013 and 2014 2013 2014 Liabilities and Owners' Equity 2013 2014 Assets Current assets Current liabilities Cash $ 40,010 $51,181 Accounts payable Accounts receivable 60,281 80,639 194,689 Notes payable Inventory ht Total 128,441 $228,732 $326,509 Long-term debt Total $191,922 $ 199,611 87,020 138,588 $278,942 $338,199 $241,000 $ 177,750 ences Owners' equity Common stock and paid-in $214,000 $214,000 surplus Accumulated retained 152,537 186,038 earnings Fixed assets Net plant and 589,478 $657,747 $ Total $366,537 $400,038 equipment 915,987 Total assets $886,479 $ Total liabilities and owners' equity $886,479 $ 915,987 Required: Based on the balance sheets given for Bethesda Mining, calculate the following financial ratios for each year: Required 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. Round your answers to 2 decimal places (e.g., 32.16).) 2013 k 2014 nt Current ratio Etimes times (b) Quick ratio. (Do not round intermediate calculations. Round your answers to 2 decimal places (e.g., 32.16).) ences 2013 Mc 2014 Quick ratio times times (c) Cash ratio. (Do not round intermediate calculations. Round your answers to 2 decimal places (e.g., 32.16).) 2013 2014 Cash ratio times times (d) Debt-equity ratio and equity multiplier. (Do not round intermediate calculations. Round your answers to 2 decimal places (e.g., 32.16).) 2013 2014 Debt-equity ratio times Equity multiplier times times times (d) Debt-equity ratio and equity multiplier. (Do not round intermediate calculations. Round your answers to 2 decimal places (e.g., 32.16).) 2013 2014 Debt-equity ratio Equity multiplier times times times times (e) Total debt ratio. (Do not round intermediate calculations. Round your answers to 2 decimal places (e.g., 32.16).) 2013 2014 Total debt ratio times 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

International Money and Finance

Authors: Michael Melvin, Stefan C. Norrbin

8th edition

978-8131234136, 123852471, 978-0123852472

More Books

Students also viewed these Finance questions

Question

30. Where does an MRP system work best?

Answered: 1 week ago

Question

35. How does takt time work?

Answered: 1 week ago

Question

36. Give an example of a visual management system.

Answered: 1 week ago