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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 2021
Just Dew It Corporation reports the following balance sheet information for 2020 and 2021. JUST DEW IT CORPORATION 2020 and 2021 Balance Sheets 2021 Assets 2020 Current assets Cash $11,025 $11,970 Accounts receivable Inventory Total 22,225 26,670 44,625 51,450 Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable 2020 2021 $43,750 $ 47,250 24,325 24,780 $68,075 $72,030 $77,875 $90,090 Total Long-term debt Owners' equity $35,000 $21,000 Common stock and paid-in surplus $ 42,000 $ 42,000 Retained earnings Net plant and equipment $272,125 $329,910 Total 204,925 284,970 $ 246,925 326,970 Total assets Total liabilities and owners' equity 350,000 420,000 350,000 420,000 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 times f. Long-term debt ratio. times times
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