Calculate financial rates

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Reference no: EM13196592

Preparing Standardized Financial Statements. Prepare the 2009 and 2010 common-size balance sheets for Bethesda Mining.

BETHESDA MINING COMPANY

BALANCE Sheets as of December 31, 2009 and 2010

2009 2010

Assets

Current assets

Cash $23,774 $31,437

Accounts receivable 57, 281 77, 639

Inventory 135, 341 202, 574

Total $216, 396 $311, 650

Fixed assets

Net plant and equipment $657, 147 $589, 178

Total assets $873, 543 $900, 828

2009 2010

Liabilities and Owners' Equity

Current liabilities

Accounts payable $194, 922 $202, 611

Notes payable 90, 020 141, 588

Total $284, 942 $344, 199

Long-term debt 247, 000 183, 750

Owner's equity

Common stock & paid $208, 000 $208,000

in surplus

Accumulated retained 133, 601 164, 879

earnings

Total $341, 601 $372, 879

Total liabilities & $873, 543 $ 900, 828

owner's equity

Calculate Financial Rates: Based on the balance sheets given for Bethesda Mining, calculate the following financial ratios for each year:

a. Current

b. Quick ratio

c. Cash ratio

d. Debt-equity ratio and equity multiplier

e. Total debt ratio

Reference no: EM13196592

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