Question

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 2018 2019 Assets Current assets Cash $ % $ % 37,354 59,781 129,618 226,753 47,940 80,139 196,004 324,083 $ 1% $ 657,647 884,400 % % $ $ 589,428 913,511 $ Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Total Long-term debt $ % $ 192,422 87,520 279,942 242,000 200,111 | 139,088 339,199 178,750 % $ $ $ $ Owners' equity $ % $ Common stock and paid-in surplus Accumulated retained earnings Total Total liabilities and owners' equity 213,000 149,458 362,458 884,400 213,000 182,562 395,562 913,511 $ $ $ $

Answer 1

fir =+B3/$B$9 СЗ A D Assets 2018 2019 2 Current assets: $ 37,354 $ 59,781 4.22%| $ 47,940 6.76% $ 80,139 14.66%| $196,004 25.64%| $324,083 3 Cash 4 Accounts receivable 5.25% 8.77% 5 Inventory 6 Total $129,618 $226,753 21.46% 35.48% 7 Fixed assets: 8 Net plant and equipment 9 Total assets 74.36% $589,428 $657,647 $884,400 100.00% $913,511 100.00% 64.52% Liabilities and Owner's equity 10 2018 2019 11 Current liabilities: 12 Accounts payable 13 Notes payable 21.76% $200,111 9.90% $139,088 31.65% $339,199 27.36% $178,750 $192,422 21.91% $ 87,520 15.23% 14 Total $279,942 37.13% 15 Long-term debt 16 Owner's equity: 17 Common stok and paid-in-surplus 18 Accumulated retained earnings $242,000 19.57% 24.08% $213,000 16.90% $182,562 40.98% $395,562 $213,000 23.32% $149,458 19.98% 19 Total $362,458 43.30% 20 Total liabilities and Owner's equity $884,400 (100.00% $913,511 100.00%

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