17) Based on the balance sheet given for Just Dew It, calculate the following financial ratios for each year:current ratioquick rationcash ratioNWC to total assets ratiodebt-equity ratio and equity multiplierTotal debt ratio and long-term debt ration Just Dew It Corporation reports the following balance sheet information for 2020and 2021. Use this information to work Problems 13 through 17.JUST DEW IT CORPORATION2020 and 2021 Balance SheetsAssetsLiabilities and Owners' Equity2020202120202021Current assetsCurrent liabilitiesCash$ 14,588$ 17,631Accounts payable $ 55,653 $ 63,073Accounts receivable35,25841,019Notes payable21,89525,324Inventory65,56771,505$ 77,548 $ 88,397TotalTotal$115,413$130,155Long-term debt$458,000 $ 62,000Owners' equityCommon stock andpaid-in surplus$ 60,000 $ 60,000Retained earnings397,278418,179Net plant and equipment$477,413 $498,421Total$457,278 $478,179Total liabilities andTotal assets$592,826 $628,576owners' equity$592,826 $628,57613. Preparing Standardized Financial Statements [LO1] Prepare the 2020 and 2021

Name: 17) Based on the balance sheet given for Just Dew It, calculate the fo
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Description: 17) Based on the balance sheet given for Just Dew It, calculate the following financial ratios for each year:current ratioquick rationcash ratioNWC to total assets ratiodebt-equity ratio and equity multiplierTotal debt ratio and long-term debt ration

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Business

Accounting

17) Based on the balance sheet given for Just Dew It, calculate the following financial ratios for each year: current ratio quick ration cash ratio NWC to total assets ratio debt-equity ratio and equity multiplier Total debt ratio and long-term debt ration

17) Based on the balance sheet given for Just Dew It, calculate the following financial ratios for each year: current ratio quick ration cash ratio NWC to total assets ratio debt-equity ratio and equity multiplier Total debt ratio and long-term debt ration

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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Just Dew It Corporation reports the following balance sheet information for 2020 and 2021. Assets Current assets Cash Accounts receivable Inventory Total Total assets 2020 Net plant and equipment $240,750 $310,600 a. Current ratio b. Quick ratio c. Cash ratio d. NWC ratio e. Debt-equity ratio e. Equity multiplier f. Total debt ratio f. Long-term debt ratio $8,850 $14,200 15,750 23,000 34,650 52,200 $ 59,250 $89,400 JUST DEW IT CORPORATION 2020 and 2021 Balance Sheets 2021 300,000 400,000 2020 times times times % times times times times Liabilities and Owners' Equity Current liabilities 2021 Accounts payable Notes payable Based on the balance sheets given for Just Dew It: a. Calculate the current ratio for each year. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) b. Calculate the quick ratio for each year. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) c. Calculate the cash ratio for…
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