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Just need part e Bethesda Mining Company reports the following balance sheet information for 2013 and 2014. BETHESDA MINING COMPANY Balance Sheets as of December
Just need part "e"
Bethesda Mining Company reports the following balance sheet information for 2013 and 2014. |
BETHESDA MINING COMPANY Balance Sheets as of December 31, 2013 and 2014 | |||||||||||||
2013 | 2014 | 2013 | 2014 | ||||||||||
Assets | Liabilities and Owners Equity | ||||||||||||
Current assets | Current liabilities | ||||||||||||
Cash | $ | 65,470 | $ | 82,487 | Accounts payable | $ | 186,922 | $ | 194,611 | ||||
Accounts receivable | 65,281 | 85,639 | Notes payable | 82,020 | 133,588 | ||||||||
Inventory | 116,676 | 181,549 | |||||||||||
Total | $ | 268,942 | $ | 328,199 | |||||||||
Total | $ | 247,427 | $ | 349,675 | |||||||||
Long-term debt | $ | 231,000 | $ | 167,750 | |||||||||
Owners equity | |||||||||||||
Common stock and paid-in surplus | $ | 224,000 | $ | 224,000 | |||||||||
Accumulated retained earnings | 182,232 | 219,704 | |||||||||||
Fixed assets | |||||||||||||
Net plant and equipment | $ | 658,747 | $ | 589,978 | Total | $ | 406,232 | $ | 443,704 | ||||
Total assets | $ | 906,174 | $ | 939,653 | Total liabilities and owners equity | $ | 906,174 | $ | 939,653 | ||||
Required: |
Based on the balance sheets given for Bethesda Mining, calculate the following financial ratios for each year: |
(e) | Total debt ratio. (Do not round intermediate calculations. Round your answers to 2 decimal places (e.g., 32.16).) |
Total debt ratio | |
2013 | times |
2014 | times |
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