Texts: Based on the balance sheet given, calculate the following financial ratios for each year.
Total assets
Fixed assets
Total inventory
Accounts receivable
Cash
Current assets
Assets
Net plant and equipment
Calculate the following financial ratios for each year:
Problem 3-16: Calculating Financial Ratios [LO 2]
Based on the balance sheets given, calculate the following financial ratios for each year:
2021:
Total assets: $884,400
Fixed assets: $362,458
Total inventory: $149,458
Accounts receivable: $213,000
Cash: $242,000
Current assets: $279,942
Assets: $87,520
Net plant and equipment: $192,422
2022:
Total assets: $913,511
Fixed assets: $395,562
Total inventory: $182,562
Accounts receivable: $213,000
Cash: $178,750
Current assets: $339,199
Assets: $139,088
Net plant and equipment: $200,111
Bethesda Mining Company reports the following balance sheet information for 2021 and 2022:
2021:
Total owner's equity: $913,511
Long-term debt: $589,428
Total notes payable: $324,083
Accounts payable: $196,004
Current liabilities: $80,139
2022:
Total owner's equity: $913,511
Long-term debt: $395,562
Total notes payable: $182,562
Accounts payable: $213,000
Current liabilities: $178,750
Balance Sheets as of December 31, 2021 and 2022:
BETHESDA MINING COMPANY
2021:
Total liabilities and owner's equity: $884,400
Accumulated retained earnings: $362,458
Common stock and paid-in surplus: $149,458
2022:
Total liabilities and owner's equity: $913,511
Accumulated retained earnings: $395,562
Common stock and paid-in surplus: $182,562
Liabilities and Owner's Equity
