Answered step by step
Verified Expert Solution
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
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 $ 45,262 $ 57,602 Accounts payable 61,281 81.639 Notes payable 126,088 192,061 $ 190,922 $ 198,611 86,020 137,588 Inventory Total $ 276.942 $ 336,199 Total $ 232,631 $ 331,302 Long-term debt $239.000 $ 175,750 Owners' equity Common stock and paid-in surplus $ 216,000 $ 216.000 Accumulated retained earnings 158.636 192.931 Fixed assets Net plant and equipment $ 657.947 $ 589,578 Total $ 374,636 $ 408.931 Net plant and equipment $ 657,947 $589,578 Total $ 374,636 $ 408,931 Total assets $890,578 $920,880 Total liabilities and owners' equity $ 890,578 $920,880 Suppose that the Bethesda Mining Company had sales of $2.236,873 and net income of $101,381 for the year ending December 31, 2019 Calculate ROE using the DuPont identity. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. Enter the profit margin and return on equity as a percent.) Profit margin Total asset turnover Equity multiplier Return on equity % times times %
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started