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I am confused about where I went wrong. Bethesda Mining Company reports the following balance sheet information for 2018 and 2019. 1 2018 2019 2.5/10
I am confused about where I went wrong.
Bethesda Mining Company reports the following balance sheet information for 2018 and 2019. 1 2018 2019 2.5/10 points awarded Assets Current assets Cash Accounts receivable Inventory BETHESDA MINING COMPANY Balance Sheets as of December 31, 2018 and 2019 2018 2019 Liabilities and Owners' Equity Current liabilities $ 52,990 $ 67,084 Accounts payable 62,781 83,139 Notes payable 122,559 188,119 $ 189,422 $ 197,111 84,520 136,088 Scored Total $ 273,942 $ 333,199 Total $238,330 $338,342 Long-term debt $236,000 $ 172,750 Owners' equity Common stock and paid-in surplus $ 219,000 $ 219,000 Accumulated retained earnings 167,635 203,121 Fixed assets Net plant and equipment $658,247 $589,728 Total $386,635 $ 422,121 Total assets $896,577 $928,070 Total liabilities and owners' equity $ 896,577 $928,070 Suppose that the Bethesda Mining Company had sales of $2,266,873 and net income of $98,381 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 4.34 % 2.49 times 2.26 X times 24.33 %Step by Step Solution
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