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Just Dew It Corporation reports the following balance sheet information for 2020 and 2021. Assets 2020 2021 Current assets Cash $11,000 $ 14,250 Accounts
Just Dew It Corporation reports the following balance sheet information for 2020 and 2021. Assets 2020 2021 Current assets Cash $11,000 $ 14,250 Accounts receivable 27,000 36,750 Notes payable JUST DEW IT CORPORATION 2020 and 2021 Balance Sheets Liabilities and Owners' Equity Current liabilities Accounts payable 2020 2021 $ 54,000 $ 63,750 14,800 20,500 Inventory 75,000 96,250 Total $113,000 $147,250 Total Long-term debt $ 68,800 $ 84,250 $ 50,000 $40,000 Owners' equity Common stock and paid-in surplus $ 55,000 $55,000 Retained earnings Net plant and equipment $287,000 $352,750 Total 226,200 320,750 $281,200 375,750 $ $ Total assets 400,000 500,000 Total liabilities and owners' equity 400,000 500,000 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.) 2020 2021 a. Current ratio b. Quick ratio c. Cash ratio times times times times times times d. NWC ratio % % e. Debt-equity ratio times times e. Equity multiplier times times f. Total debt ratio times 0.24 times f. Long-term debt ratio times 0.10 times
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