Just Dew It Corporation reports the following balance sheet information for 2020 and2021.AssetsCurrent assetsCashAccounts receivableInventoryTotal2020Total assetsJUST DEW IT CORPORATION2020 and 2021 Balance Sheets2021 Liabilities and Owners' EquityCurrent liabilities$ 14,58835,25865,567 71,505$115,413 $130,155$ 17,63141,019592,826Accounts payableNotes payableNet plant and equipment $477,413 $498,421 TotalTotalBased on the balance sheets given for Just Dew It:$628,576 Total liabilities and owners' equity2020$ 55,65321,8952021$ 63,07325,324Long-term debtOwners' equityCommon stock and paid-in surplus $60,000 $60,000Retained earnings397,278 418,179$ 457,278 $ 478,179$77,548 $88,397$ 58,000 $ 62,000$592,826 628,576 esBased on the balance sheets given for Just Dew It:a. Calculate the current ratio for each year. (Do not round intermediate calculationsand round your answers to 2 decimal places, e.g., 32.16.)b. Calculate the quick ratio for each year. (Do not round intermediate calculations andround your answers to 2 decimal places, e.g., 32.16.)c. Calculate the cash ratio for each year. (Do not round intermediate calculations andround your answers to 2 decimal places, e.g., 32.16.)d. Calculate the NWC to total assets ratio for each year. (Do not round intermediatecalculations and enter your answers as a percent rounded to 2 decimal places, e.g.,32.16.)e. Calculate the debt-equity ratio and equity multiplier for each year. (Do not roundintermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)f. Calculate the total debt ratio and long-term debt ratio for each year. (Do not roundintermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)a. Current ratio.b. Quick ratioc. Cash ratio :d. NWC ratioe. Debt-equity ratioe. Equity multiplierf. Total debt ratiof. Long-term debt ratio2020timestimestimes%timestimestimestimes2021timestimestimes%timestimestimestimes

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Just Dew It Corporation reports the following balance sheet information for 2020 and 2021. Assets Current assets Cash Accounts receivable Inventory Total JUST DEW IT CORPORATION 2020 and 2021 Balance Sheets 2021 Liabilities and Owners' Equity Current liabilities 2020 $14,588 $ 17,631 35,258 41,019 65,567 71,505 $115,413 $130,155 Net plant and equipment $477,413 $498,421 Accounts payable Notes payable 2020 Total 2021 $55,653 $ 63,073 21,895 25,324 Total Long-term debt Owners' equity Common stock and paid-in surplus $60,000 $60,000 Retained earnings 397,278 418,179 $ 457,278 $ 478,179 $77,548 $88,397 $ 58,000 $62,000

Just Dew It Corporation reports the following balance sheet information for 2020 and 2021. Assets Current assets Cash Accounts receivable Inventory Total JUST DEW IT CORPORATION 2020 and 2021 Balance Sheets 2021 Liabilities and Owners' Equity Current liabilities 2020 $14,588 $ 17,631 35,258 41,019 65,567 71,505 $115,413 $130,155 Net plant and equipment $477,413 $498,421 Accounts payable Notes payable 2020 Total 2021 $55,653 $ 63,073 21,895 25,324 Total Long-term debt Owners' equity Common stock and paid-in surplus $60,000 $60,000 Retained earnings 397,278 418,179 $ 457,278 $ 478,179 $77,548 $88,397 $ 58,000 $62,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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