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Just Dew It Corporation reports the following balance sheet information for 2020 and 2021. JUST DEW IT CORPORATION 2020 and 2021 Balance Sheets Assets 2020

Just Dew It Corporation reports the following balance sheet information for 2020 and 2021.

JUST DEW IT CORPORATION
2020 and 2021 Balance Sheets
Assets 2020 2021 Liabilities and Owners Equity 2020 2021
Current assets Current liabilities
Cash $ 14,588 $ 17,631 Accounts payable $ 55,653 $ 63,073
Accounts receivable 35,258 41,019 Notes payable 21,895 25,324
Inventory 65,567 71,505
Total $ 115,413 $ 130,155 Total $ 77,548 $ 88,397
Long-term debt $ 58,000 $ 62,000
Owners equity
Common stock and paid-in surplus $ 60,000 $ 60,000
Retained earnings 397,278 418,179
Net plant and equipment $ 477,413 $ 498,421 Total $ 457,278 $ 478,179
Total assets $ 592,826 $ 628,576 Total liabilities and owners equity $ 592,826 $ 628,576

Based on the balance sheets given for Just Dew It:

a. Calculate the current ratio for each year. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)
b. Calculate the quick ratio for each year. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)
c. Calculate the cash ratio for each year. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)
d. Calculate the NWC to total assets ratio for each year. (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)
e. Calculate the debt-equity ratio and equity multiplier for each year. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)
f. Calculate the total debt ratio and long-term debt ratio for each year. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)

image text in transcribed

\begin{tabular}{|l|l||l|l|l|} \hline & \multicolumn{2}{|c|}{2020} & \multicolumn{2}{c|}{2021} \\ \hline a. Current ratio & & times & times \\ \hline b. Quick ratio & & times & times \\ \hline c. Cash ratio & times & times \\ \hline d. NWC ratio & & % & % \\ \hline e. Debt-equity ratio & & times & & times \\ \hline e. Equity multiplier & & times & times \\ \hline f. Total debt ratio & & times & times \\ \hline f. Long-term debt ratio & & times & & times \\ \hline \end{tabular}

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