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Bethesda Mining Company reports the following balance sheet information for 2013 and 2014. Required: Prepare the 2013 and 2014 common-size balance sheets for Bethesda Mining.
Bethesda Mining Company reports the following balance sheet information for 2013 and 2014. |
Required: |
Prepare the 2013 and 2014 common-size balance sheets for Bethesda Mining. (Do not round intermediate calculations. Round your answers to 2 decimal places (e.g., 32.16).) |
BETHESDA MINING COMPANY Balance Sheets as of December 31, 2013 and 2014 | |||||||||||||||||||||
2013 | 2014 | 2013 | 2014 | ||||||||||||||||||
Assets | Liabilities and Owners Equity | ||||||||||||||||||||
Current assets | Current liabilities | ||||||||||||||||||||
Cash | $ | 21,396 | % | $ | 24,385 | % | Accounts payable | $ | 214,414 | % | $ | 192,480 | % | ||||||||
Accounts receivable | 51,552 | % | 58,318 | % | Notes payable | 99,022 | % | 134,508 | % | ||||||||||||
Inventory | 121,807 | % | 143,615 | % | |||||||||||||||||
Total | $ | 313,436 | % | $ | 326,988 | % | |||||||||||||||
Total | $ | 194,755 | % | $ | 226,318 | % | |||||||||||||||
Long-term debt | $ | 271,700 | % | $ | 285,300 | % | |||||||||||||||
Owners equity | |||||||||||||||||||||
Common stock and paid-in surplus | $ | 200,000 | % | $ | 200,000 | % | |||||||||||||||
Accumulated retained earnings | 132,481 | % | 171,358 | % | |||||||||||||||||
Fixed assets | |||||||||||||||||||||
Net plant and equipment | $ | 722,862 | % | $ | 757,328 | % | Total | $ | 332,481 | % | $ | 371,358 | % | ||||||||
Total assets | $ | 917,617 | % | $ | 983,646 | % | Total liabilities and owners equity | $ | 917,617 | % | $ | 983,646 | % | ||||||||
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