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

BETHESDA MINING COMPANY Balance Sheets as of December 31, 2018 and 2019 2018 2019 Assets Current assets Cash $ $ 65,470 65,281 116,676 247.427 % % % % 82,487 85,639 181,549 349,675 $ $ $ $ 658.747 906.174 % % $ $ 589,978 939,653 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 Owners' equity Common stock and paid-in surplus Accumulated retained earnings Total Total liabilities and owners' equity $ $ 186,922 82,020 268,942 231,000 % % % % 194,611 133,588 328,199 167,750 $ $ $ $ $ % $ % 224.000 182.232 406,232 906,174 224.000 219.704 443,704 939,653 $ $ % % $ $

Answer 1

C3 - X V fx =+B3/$B$9 A B C D 1 Assets 2018 2019 2 Current assets: 3 Cash $ 65,470 7.22% $ 82,487 8.78% 4 Accounts receivable $ 65,281 7.20% $ 85,639 9.11% 5 Inventory $116,676 12.88% $ 181,549 19.32% 6 Total $ 247,427 27.30% $349,675 37.21% 7 Fixed assets: 8 Net plant and equipment $658,747 72.70% $589,978 62.79% 9 Total assets $906,174 100.00% $939,653 100.00% 10 Liabilities and Owner's equity 11 Current liabilities: 12 Accounts payable $ 186,922 20.63% $ 194,611 20.71% 13 Notes payable $ 82,020 9.05% $133,588 14.22% 14 Total $268,942 29.68% $328,199 34.93% 15 Long-term debt $ 231,000 25.49% $167,750 17.85% 16 Owner's equity: 17 Common stok and paid-in-surplus $ 224,000 24.72% $ 224,000 23.84% 18 Accumulated retained earnings $182,232 20.11% $ 219,704 23.38% 19 Total $ 406,232 44.83% $443,704 47.22% 20 Total liabilities and Owner's equity $906,174 100.00% $939,653 100.00%

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