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Homework answers / question archive / Bethesda Mining Company reports the following balance sheet information for 2013 and 2014

Bethesda Mining Company reports the following balance sheet information for 2013 and 2014

Finance

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 $ 21,396   $ 24,385        Accounts payable $ 214,414   $ 192,480  
    Accounts receivable   51,552     58,318        Notes payable   99,022     134,508  
    Inventory   121,807     143,615                
                        Total $ 313,436   $ 326,988  
      Total $ 194,755   $ 226,318                
                Long-term debt $ 271,700   $ 285,300  
                Owners’ equity            
                   Common stock and paid-in surplus $ 200,000   $ 200,000  
                   Accumulated retained earnings   132,481     171,358  
  Fixed assets                           
    Net plant and equipment $ 722,862   $ 757,328              Total $ 332,481   $ 371,358  
                           
  Total assets $ 917,617   $ 983,646     Total liabilities and owners’ equity $ 917,617   $ 983,646  
                           
 
Required:
Based on the balance sheets given for Bethesda Mining, calculate the following financial ratios for each year:
(a)

Current ratio. (Do not round intermediate calculations. Round your answers to 2 decimal places (e.g., 32.16).)
  Current ratio
  2013 times  
  2014 times
 
(b)

Quick ratio. (Do not round intermediate calculations. Round your answers to 2 decimal places (e.g., 32.16).)
  Quick ratio
  2013 times  
  2014 times
 
(c)

Cash ratio. (Do not round intermediate calculations. Round your answers to 2 decimal places (e.g., 32.16).)
  Cash ratio  
  2013 times  
  2014 times
 
(d)

Debt-equity ratio and equity multiplier. (Do not round intermediate calculations. Round your answers to 2 decimal places (e.g., 32.16).)
  Debt-equity ratio
(times)		 Equity multiplier
(times)
  2013               
  2014              
 
(e)

Total debt ratio. (Do not round intermediate calculations. Round your answers to 2 decimal places (e.g., 32.16).)
  Total debt ratio
(times)
  2013     
  2014     
 

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