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Can someone help me with the parts I got wrong? Thanks Birtle Corporation reports the following statement of financial position information for 2017 and 2018.
Can someone help me with the parts I got wrong?
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Birtle Corporation reports the following statement of financial position information for 2017 and 2018. BIRTLE CORPORATION 2017 and 2018 Statement of Financial Position Assets 2017 2018 2017 Current assets Cash $ 9,279 $ 11,173 Current liabilities Accounts payable Notes payable $ 41,060 16, 157 Accounts receivable 23,683 42,636 25,760 46,915 Inventory Total $ 75,598 $ 83,848 Total $ 57,217 $ 40,000 Long-term debt Fixed assets Owners' equity Net plant and equipment $272,047 $297,967 Common stock and paid-in surplus Retained earnings $ 50,000 200,428 $250,428 Total Total assets $347,645 $381,815 Total liabilities and owners' equity $347,645 f. Calculate the total debt ratio and long-term debt ratio for each year. (Round the final answers to 3 decimal places.) 2017 2018 Total debt ratio 0.280 times 0.250 times Long-term debt ratio 0.120 times 0.090 times Liabilities and Owners' Equity 2018 $ 43,805 16,843 $ 60,648 $ 35,000 $ 50,000 236, 167 $286, 167 $381,815Step by Step Solution
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