Answered step by step
Verified Expert Solution
Question
1 Approved Answer
PLEASE HELP! 2 Bethesda Mining Company reports the following balance sheet information for 2018 and 2019. 4.75 points BETHESDA MINING COMPANY Balance Sheets as of
PLEASE HELP!
2 Bethesda Mining Company reports the following balance sheet information for 2018 and 2019. 4.75 points BETHESDA MINING COMPANY Balance Sheets as of December 31, 2018 and 2019 2018 2019 2018 2019 Assets Liabilities and Owners' Equity Current assets Current liabilities 88,509 Cash $ 70,322 $ Accounts payable $ 185,922 $ 193,611 Accounts receivable 66,281 86,639 Notes payable 81,020 132,588 Inventory 114,322 178,920 Total $266,942 $ 326,199 Total $250,925 $ 354,068 $229,000 $ 165,750 Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings $226,000 $226,000 187,930 226,197 Fixed assets Net plant and equipment $658,947 $ 590,078 Total $ 413,930 $ 452,197 Total assets 944,146 Total liabilities and owners' $909,872 $ equity $909,872 $ 944,146 Calculate the following financial ratios for each year: a. Current ratio. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) b. Quick ratio. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) c. Cash ratio. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) d. Debt-equity ratio and equity multiplier. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) e. Total debt ratio. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) a. 2018 current ratio 2019 current ratio b. 2018 Quick ratio 2019 Quick ratio c. 2018 Cash ratio 2019 Cash ratio d. 2018 Debt-equity ratio 2018 Equity multiplier 2019 Debt-equity ratio 2019 Equity multiplier 2018 Total debt ratio 2019 Total debt ratio times times times times times times times times times times times e timesStep 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