Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Need Help & Calculations for the ones in red please!!! ded Just Dew It Corporation reports the following balance sheet information for 2020 and 2021
Need Help & Calculations for the ones in red please!!!
ded Just Dew It Corporation reports the following balance sheet information for 2020 and 2021 Assets Current assets Cash Accounts receivable Inventory Total JUST DEW IT CORPORATION 2020 and 2021 Balance Sheets 2021 Liabilities and Owners' Equity Current liabilities Total assets 2020 $14,250 $ 11,000 27,000 75,000 96,250 36,750 $ 113,000 $147,250 Net plant and equipment $ 287,000 $352.750 Total $ 400,000 500,000 Accounts payable Notes payable Based on the balance sheets given for Just Dew It 2020 2021 $ 54,000 $63,750 14,800 20.500 Total Long-term debt Owners' equity Common stock and paid-in surplus $ 55,000 $ 55,000 Retained earnings 226,200 320,750 Total liabilities and owners' equity $ 68,800 $ 84,250 $ 50,000 $40,000 $ 281,200 $ 375,750 $ 400,000 500,000 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.) a. Current ratio b. Quick ratio c. Cash ratio d. NWC ratio: e. Debt-equity ratio e. Equity multiplier f. Total debt ratio f. Long-term debt ratio 2020 1.64 0.55 0.16 11.05 0.17 1.42 1.00 0.17 times times times % times times times times 2021 times times times % times 1.33 times 100 times 011 times 1.75 0.61 0.17 1.26 0.17 Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started