Question

1. Bethesda Mining Company reports the following balance sheet information for 2018 and 2019. Prepare the 2018 and 2019 common-size balance sheets for Bethesda Mining. (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) BETHESDA MINING COMPANY Balance Sheets as of December 31, 2018 and 2019 2019 2018 Assets Current assets 34,778 26,530 Cash 78.139 Accounts receivable 57,781 134 324 201,260 Inventory 314,177 Total 218.635 2$ Fixed assets 589,228 Net plant and equipment 657,247 2$ Total assets 903,405 875,882 Liabilities and Owners' Equity Current liabilities 202,111 Accounts payable 194,422 2$ 89,520 141,088 Notes payable 283.942 343.199 % Total 246,000 Long-term debt Owners' equity 182,750 2$ % $ Common stock and paid-in surplus 209.000 209,000 168,456 Accumulated retained earnings 136.940 377,456 345,940 Total Total liabilities and owners' equity 903,405 875.882 24

Answer 1

BALANCE SHEET DECEMBER 31, 2018 & 2019
	2018		2019
Assets		%		%
Current assets
cash	26530	3.03%	34778	3.85%
account receivable	57781	6.60%	78139	8.65%
inventory	134324	15.34%	201260	22.28%
Total	218635	24.96%	314177	34.78%
Fixed assets
Net plant and equipment	657247	75.04%	589228	65.22%
Total Assets	875882	100%	903405	100.00%
Liabilities and owner Equity
Current Liabilities
Account payable	194422	22.20%	202111	22.37%
Notes payable	89520	10.22%	141088	15.62%
Total	283942	32.42%	343199	37.99%
Long term debt	246000	28.09%	182750	20.23%
Owner Equity
Common stock and paid in surplus	209000	23.86%	209000	23.13%
Accumulated retained earnings	136940	15.63%	168456	18.65%
Total	345940	39.50%	377456	41.78%
Total Liabilities and owner Equity	875882	100%	903405	100.00%

Note: Percentage based on = Each Asset/ Total asset and Each liability / Total Liability are calculated.