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Just Dew It Corporation reports the following balance sheet information for 2014 and 2015. Assets 2014 2015 JUST DEW IT CORPORATION 2014 and 2015 Balance
Just Dew It Corporation reports the following balance sheet information for 2014 and 2015. Assets 2014 2015 JUST DEW IT CORPORATION 2014 and 2015 Balance Sheets Liabilities and Owners' Equity 2015 2014 Current liabilities $ 17,775 Accounts payable $ 46,875 16,425 Notes payable 19,125 56,925 Current assets Cash Accounts receivable Inventory $ 12,000 12,750 50,250 $ 55,575 24,750 Total $ 75,000 $ 91,125 Total $ 66,000 $ 80,325 $ 30,000 $ 27,000 Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings $ 45,000 234,000 $ 45,000 297,675 Net plant and equipment $300,000 $358,875 Total $279,000 $342,675 Total assets $375,000 $450,000 Total liabilities and owners' equity $375,000 $450,000 Based on the balance sheets given for Just Dew It: a. Calculate the current ratio for each year. (Do not round intermediate calculations. Round your answers to 2 decimal places, e.g., 32.16.) 2014 times 2015 times Current ratio e. Calculate the debt-equity ratio and equity multiplier for each year. (Do not round intermediate calculations. Round your answers to 2 decimal places, e.g., 32.16.) 2014 2015 times times Debt-equity ratio Equity multiplier f. Calculate the total debt ratio and long-term debt ratio for each year. (Do not round intermediate calculations. Round your answers to 2 decimal places, e.g., 32.16.) 2014 times 2015 times Total debt ratio Long-term debt ratio times times
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