BETHESDA MINING COMPANY
Balance Sheets as of December 31, 2021 and 2022
Assets
2021
2022
Current assets
Liabilities and Owners' Equity
2021
2022
Cash
\$ 42,646
\$ 54,402
Accounts payable
\$ 191,422
\$ 199,111
Accounts receivable
60,781
81,139
Notes payable
86,520
138,088
Inventory
127,265
193,375
Total
\$ 277,942
\$ 337,199
Total
\$ 230,692
\$ 328,916
Long-term debt
\$ 240,000
\$ 176,750
Owners' equity
Common stock and paid-in surplus
\$ 215,000
\$ 215,000
Fixed assets
Accumulated retained earnings
155,597
189,495
Net plant and equipment
\$ 657,847
\$ 589,528
Total
\$ 370,597
\$ 404,495
Total assets
\$ 888,539
\$ 918,444
Total liabilities and owners' equity
\$ 888,539
\$ 918,444
Based on the balance sheets given, calculate the following financial ratios for each year:
Calculate the following financial ratios for each year:
a. Current ratio.
Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.
b. Quick ratio.
Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.
c. Cash ratio.
Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.
d. Debt-equity ratio and equity multiplier.
Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.
e. Total debt ratio.