Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Bethesda Mining Company reports the following balance sheet information for 2018 and 2019. 2018 2019 Assets Current assets Cash Accounts receivable BETHESDA MINING COMPANY Balance

image text in transcribedimage text in transcribed

Bethesda Mining Company reports the following balance sheet information for 2018 and 2019. 2018 2019 Assets Current assets Cash Accounts receivable BETHESDA MINING COMPANY Balance Sheets as of December 31, 2018 and 2019 2018 2019 Liabilities and Owners' Equity Current liabilities $ 47,858 $ 60,783 Accounts payable 61,781 82,139 Notes payable $ 190,422 $ 198,111 85,520 137,088 190,747 Inventory 124,912 Total $275,942 $ 335,199 Total $ 234,551 333,669 $ $238,000 $ 174,750 Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings $ 217,000 $ 217,000 161,656 196,348 Fixed assets Net plant and equipment $ 658,047 $ 589,628 Total $ 378,656 $ 413,348 Total assets 923,297 $892,598 $ Total liabilities and owners' equity $892,598 $923,297 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.) b. Quick ratio. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) c. Cash ratio. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) d. Debt-equity ratio and equity multiplier. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) e. Total debt ratio. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) a. times 2018 current ratio 2019 current ratio times b. 2018 Quick ratio times 2019 Quick ratio times C. 2018 Cash ratio times 2019 Cash ratio times d. times times 2018 Debt-equity ratio 2018 Equity multiplier 2019 Debt-equity ratio 2019 Equity multiplier times times e 2018 Total debt ratio times 2019 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

Step: 3

blur-text-image

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

Question

Dont off er e-mail communication if you arent going to respond.

Answered: 1 week ago