BIRTLE CORPORATION 2017 and 2018 Statement of Financial Position Liabilities and Owners' Equity Assen 2017 2018 2017 2018 $ 9,279 23,683 Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment $ 41,060 16,157 $ 57,217 $ 43,805 16,843 $ 60,648 $ 35.000 42.636 $75.598 $140,000 Current liabilities $ 11,173 Accounts payable 25.760 Notes payable _46.915 Total $ 83,848 Long-term debt Owners' equity 297.967 Common stock and paid-in surplus Retained earnings Total $381,815 Total liabilities and owners' equity 272,047 50.000 200.428 $250,428 $347.645 50.000 236.167 $286,167 $381,815 Total assets $347.645 14. Preparing Standardized Financial Statements (LO2) Prepare the 2014 and 2015 common-size statement of financial position for Birtle. 15. Preparing Standardized Financial Statements (LO2) Prepare the 2014 common-base year statement of financial position for Birtle. 16. Preparing Standardized Financial Statements (LO2) Prepare the 2015 combined common-size, common-base year statement of financial position for Birtle. 17. Sources and Uses of Cash (L01) For each account on Birtle Corporation's statement of financial position, show the change in the account during 2018 and note whether this change was a source or use of cash. Do your numbers add up and make sense? Explain your answer for total assets as compared to your answer for total liabilities and owners' equity. 18. Calculating Financial Ratios (LO3) Based on the statement of financial position given for Birtle, calculate the following financial ratios for each year: 4. Current ratio 1. Quick ratio c. Cash ratio d. NWC to total assets ratio e. Debt-equity ratio and equity multiplier 1. Total debt ratio and long-term debt ratio